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Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) is a leading global cruise company that operates some of the most recognized brands in cruise travel: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. With a fleet of 32 ships and approximately 66,500 berths, the company offers diverse itineraries to nearly 700 destinations worldwide. Over its 48-year history, Norwegian Cruise Line has introduced freestyle cruising, a concept that gives guests greater flexibility and transformed the cruise industry.
Operations and Fleet
Norwegian Cruise Line operates 13 purpose-built freestyle cruising ships, providing guests with a relaxed, resort-style vacation on contemporary ships. Oceania Cruises is renowned for its culinary and destination-focused experiences on eight small, luxurious ships. Regent Seven Seas Cruises offer all-inclusive, ultra-luxury voyages on five elegant ships. The company plans to introduce 13 additional ships across its brands by 2036, adding approximately 41,000 berths to its capacity.
Achievements and Recent Projects
Norwegian Cruise Line has been recognized as “Europe’s Leading Cruise Line” for seven consecutive years and “Caribbean’s Leading Cruise Line” three times by the World Travel Awards. The company recently added the Norwegian Getaway, a 4,000-passenger ship homeported year-round in Miami, featuring 28 dining options.
Oceania Cruises has announced a free pre-cruise hotel stay offer for select sailings through late 2024 and 2025, enhancing guest convenience and enriching their travel experience. Additionally, Oceania introduced celebrated Chef Giada De Laurentiis as its Brand and Culinary Ambassador, further solidifying its commitment to offering The Finest Cuisine at Sea®.
Financial and Strategic Developments
Norwegian Cruise Line Holdings has a disciplined multi-year de-leveraging plan and strategic initiatives focusing on fleet expansion and sustainability. The company’s latest initiative, the “Charting the Course” strategy, aims to enhance shareholder returns by improving guest experiences, capitalizing on high-growth opportunities, and driving operational excellence.
In 2024, the company is increasing its financial guidance, expecting Net Yield growth from 6.4% to 7.2%, Adjusted EBITDA from $2.25 billion to $2.30 billion, and Adjusted EPS from $1.32 to $1.42. The company continues to focus on sustainability with initiatives to reduce greenhouse gas emissions and advance towards decarbonization.
Partnership with Fincantieri will see the construction of eight new transformational ships across its brands, emphasizing innovation, efficiency, and sustainability. Additionally, infrastructure enhancements are planned for Great Stirrup Cay, the company’s private island in the Bahamas, to accommodate increased capacity and enhance guest experience.
Conclusion
Norwegian Cruise Line Holdings Ltd. remains a pivotal player in the cruise industry, known for its innovative approach and commitment to providing exceptional vacation experiences. As the company expands its fleet and enhances its offerings, it continues to set industry standards for luxury, sustainability, and guest satisfaction.
NCL Corporation Ltd. announced an increase in its private offering of 5.375% exchangeable senior notes due 2025, raising the total to $450 million from the initial $400 million. This includes $50 million from the partial exercise of the option to purchase additional notes. The notes are unsecured and guaranteed by Norwegian Cruise Line Holdings Ltd. The offering is set to close on July 31, 2020. Proceeds will be used for general corporate purposes. The notes will not be registered under U.S. securities laws and are strictly offered to institutional buyers.
Norwegian Cruise Line Holdings (NYSE: NCLH) will release its second quarter 2020 financial results on August 6, 2020, at 7:00 a.m. ET. A conference call to discuss the results will follow at 10:00 a.m. ET, which will be available via webcast on the Company’s Investor Relations website. Norwegian Cruise Line Holdings operates several cruise brands and has a fleet of 28 ships offering itineraries to over 490 destinations globally. The company plans to introduce nine additional ships by 2027.
Norwegian Cruise Line Holdings (NYSE: NCLH) announced an extension of its suspension of global cruise voyages, now covering all voyages from October 1 to October 31, 2020. The company aims to enhance transparency with monthly updates on voyage status starting in August. Furthermore, Norwegian is collaborating with Royal Caribbean Group to establish enhanced health and safety protocols amid the COVID-19 pandemic, involving a panel of public health experts. The company continues to coordinate efforts with the CDC and other health authorities to ensure safety for guests and crew.
NCL Corporation Ltd. (NCLC), a subsidiary of Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH), announced the closing of its $750 million private offering of 10.250% senior secured notes due 2026. Proceeds will repay a $675 million revolving credit facility and cover transaction fees. Additionally, NCLC closed a $400 million private offering of 5.375% exchangeable senior notes due 2025, with an option for an additional $60 million. The exchangeable notes can be converted into NCLC’s Series A Preference Shares, which are automatically exchangeable into ordinary shares of NCLH.
Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) has successfully completed its public offering of 19,166,667 ordinary shares at $15.00 per share, which includes the full exercise of an underwriters' option for an additional 2.5 million shares. The proceeds from this offering will be used for general corporate purposes. J.P. Morgan, Citigroup, Goldman Sachs, and others served as joint book-running managers. This offering was conducted under an automatic shelf registration statement with the SEC.
Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) has priced its public offering of 16,666,667 ordinary shares at $15.00 each, with an option for underwriters to purchase an additional 2,500,000 shares by August 17, 2020. The offering, set to close on July 21, 2020, will support general corporate purposes. Major investment banks, including J.P. Morgan and Goldman Sachs, are leading the offering, filed under an automatic shelf registration statement. The firm operates a fleet of 28 ships across several brands, with plans to add nine more vessels by 2027.
NCL Corporation Ltd. (NCLC), a subsidiary of Norwegian Cruise Line Holdings Ltd. (NCLH), has priced $750 million of 10.250% senior secured notes due 2026, increasing from $675 million. Additionally, $400 million of 5.375% exchangeable senior notes due 2025 were also priced, raised from $250 million. The net proceeds will be utilized for repaying debt and general corporate purposes. The offerings are set to close on July 21, 2020, and are exempt from registration under the Securities Act.
NCL Corporation Ltd. (a subsidiary of Norwegian Cruise Line Holdings Ltd.) plans to issue $675 million in senior secured notes due 2026 and $250 million in exchangeable senior notes due 2025, with an option for an additional $37.5 million. The proceeds will primarily be used to repay a revolving credit facility and cover related fees. The notes are offered privately, exempt from Securities Act registration, and will be secured by a priority interest in a vessel. The exchangeable notes are convertible into preference shares, which will be exchangeable for ordinary shares of NCLH.
Norwegian Cruise Line Holdings Ltd. (NCLH) has initiated an underwritten public offering of $250 million in ordinary shares, with an additional $37.5 million option for underwriters. The net proceeds will be allocated for general corporate purposes. The offering is made under an automatic shelf registration statement with the SEC. Joint book-running managers include J.P. Morgan, Citigroup, and Goldman Sachs. This announcement highlights NCLH's strategy to bolster liquidity amidst ongoing challenges in the cruise industry, particularly due to the COVID-19 pandemic.
Norwegian Cruise Line Holdings (NYSE: NCLH) appointed Scott Dahnke as an independent director effective July 14, 2020. Dahnke, the Global co-CEO of L Catterton, brings extensive experience in private equity and consumer brands. His insights are expected to enhance the Board's capabilities. Norwegian’s Chairman and CEO emphasized Dahnke's strong leadership and background in finance and management, which aligns with the company's innovation in cruise travel. Norwegian operates 28 ships and plans to expand its fleet by nine ships by 2027.
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