A few days ago the Norwegian Cruise Line share prices of their secondary offering was announced, which was 20 million of its ordinary shares. These shares were by Star NCLC Holdings Ltd, although certain funds were affiliated with Apollo Global Management, along with LLC and TPG Global, LLC as well.
NCLH share prices were $29.75 per ordinary share, and the underwriters have been given a 30-day option to purchase a collective of up to 3 million additional ordinary shares. However, we are told that Norwegian Cruise Line will not be selling any ordinary shares in this latest offering, and so will not receive any proceeds from the selling of these shares.
Acting as bookrunners and the delegates of the underwriters for this offering are Barclays and UBS Investment Bank. However, there are other bookrunners, such as Citigroup, J.P. Morgan, Sachs & Co and Deutsche Bank Securities. There are also co-managers in this offering; these are Credit Agricole, HSBC amongst others.
You can read more about Norwegian’s secondary public offering in their latest press release.
Things are certainly looking up for Norwegian Cruise Line because we recently reported on their financial success thanks to new ships, such as the Norwegian Breakaway. Norwegian Cruise Line net revenue has increased by 12 percent and with some clever rebalancing they have managed to improve their balance sheet.
It does show that the cruise industry is on the up.
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