July 27, 2016 9:43 AM ET

Hotels, Restaurants and Leisure

Company Overview of NCL Corporation Ltd.

Company Overview

NCL Corporation Ltd. operates as a cruise line operator. The company was founded in 2013 and is based in Miami, Florida. NCL Corporation Ltd. operates as a subsidiary of Norwegian Cruise Line Holdings Ltd.

7665 Corporate Center Drive

Miami, FL 33126

United States

Founded in 2013

Phone:

305-436-4000

Fax:

305-436-4120

Key Executives for NCL Corporation Ltd.

Chief Executive Officer and President
Age: 61
Chief Financial Officer and Executive Vice President
Age: 52
President of Norwegian Brand and Chief Operating Officer of Norwegian Brand
Age: 53
President for Regent & Oceania Cruises Brands and Chief Operating Officer for Regent & Oceania Cruises Brands
Age: 42
Chief Accounting Officer and Senior Vice President
Age: 44
Compensation as of Fiscal Year 2016.

NCL Corporation Ltd. Key Developments

NCL Corporation Ltd. Announces Resignation of F. Robert Salerno as Board of Director, Effective as of July 5, 2016

NCL Corporation Ltd. announced that Mr. F. Robert Salerno he would be resigning from the board of directors of the company, effective as of July 5, 2016. The resignation did not involve a disagreement with the company on any matter relating to the company's operations, policies or practices.

NCL Corporation Ltd. Enters into Second Amended and Restated Credit Agreement

NCL Corporation Ltd. entered into a Second Amended and Restated Credit Agreement, dated as of June 6, 2016, with Voyager Vessel Company, LLC, an indirect subsidiary of NCLC, as co-borrower, JPMorgan Chase Bank, N.A. ("JPM"), as administrative agent and as collateral agent, and a syndicate of other banks party thereto as joint bookrunners, arrangers, co-documentation agents and lenders, which amends and restates the Amended and Restated Credit Agreement, dated as of October 31, 2014, by and among NCLC, JPM, as administrative agent and as collateral agent, and a syndicate of other banks party thereto as joint bookrunners, arrangers, co-documentation agents and lenders. The Amended Senior Secured Credit Facility amends the Existing Senior Secured Credit Facility to, among other things, increase the aggregate amount of commitments under the revolver from $625.0 million (the "Existing Revolving Facility") to $750.0 million (the "New Revolving Facility") and (b) increase the aggregate principal amount outstanding under the existing senior secured term A facility from $1.16 billion (the "Existing Term A Facility") to approximately $1.51 billion (the "New Term A Facility") and extend the maturity of the New Term A Facility and the New Revolving Facility to June 2021 (the "Extended Maturity Date"), incorporating a springing maturity date for the New Term A Facility and the New Revolving Facility such that both mature on the earlier date that is 91 days prior to the final maturity date of NCLC's 5.25% senior notes due 2019 (the "5.25% Notes") if on such date the 5.25% Notes have not been repaid (or refinanced with indebtedness maturing after the Extended Maturity Date) by such date and free liquidity does not exceed the aggregate principal amount of outstanding 5.25% Notes by at least $50.0 million and the earlier date that is 91 days prior to the final maturity date of NCLC's 4.625% senior notes due 2020 (the "4.625% Notes") if on such date the 4.625% Notes have not been repaid (or refinanced with indebtedness maturing after the Extended Maturity Date) by such date and free liquidity does not exceed the aggregate principal amount of outstanding 4.625% Notes by at least $50.0 million. NCLC used proceeds of approximately $1.59 billion from the New Term A Facility and the New Revolving Facility to prepay the entire outstanding principal amount of the Existing Revolving Facility, the Existing Term A Facility and its senior secured term B facility under the Existing Senior Secured Facility.

NCL Corporation Ltd. Announces Resignation of Kevin Crowe and Mr. Karl Peterson from the Board of Directors

On March 7, 2016, Mr. Kevin Crowe and Mr. Karl Peterson each notified NCL Corporation Ltd. that they were resigning from the Board of Directors of the company, effective immediately. The resignations did not involve a disagreement with the company on any matter relating to the company's operations, policies or practices. The board intends to reduce the size of the board from eleven to nine members by eliminating the vacant seats created by the resignations.

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