Corporate ActionMay 29, 2026, 04:20 PM
Norwegian Cruise Line Elects Cash Settlement for Exchangeable Notes
AI Summary
Norwegian Cruise Line Holdings Ltd.'s subsidiary, NCL Corporation Ltd., has elected to irrevocably fix the settlement method to cash for all exchanges of its 1.125% and 2.50% Exchangeable Senior Notes due 2027. This decision, effective for exchanges on or after May 29, 2026, is anticipated to reduce the diluted weighted-average shares outstanding guidance by approximately 2 million shares for the quarter ending June 30, 2026, and 4 million shares for the full year ending December 31, 2026.
Key Highlights
- NCL Corporation Ltd. elected cash settlement for its 1.125% Exchangeable Senior Notes due 2027.
- NCL Corporation Ltd. also elected cash settlement for its 2.50% Exchangeable Senior Notes due 2027.
- The cash settlement method applies to all note exchanges with an Exchange Date on or after May 29, 2026.
- The election is expected to reduce diluted weighted-average shares outstanding by approximately 2 million for Q2 2026.
- The election is expected to reduce diluted weighted-average shares outstanding by approximately 4 million for the full year 2026.
Price Impact
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