Viking Cruises to sell $250 million 10-year notes in Tuesday drive-by

By Paul A. Harris

Portland, Ore., May 5 – Viking Cruises Ltd. plans to price a $250 million offering of 10-year senior notes (expected ratings B3/B+) on Tuesday, according to a syndicate source.

An investor call was scheduled for 11:30 a.m. ET on Tuesday.

Wells Fargo Securities LLC is the left bookrunner for the Rule 144A and Regulation S for life offering. BofA Merrill Lynch and Credit Suisse Securities (USA) LLC are the joint bookrunners.

The notes come with five years of call protection.

The Woodland Hills, Calif.-based river cruising company plans to use the proceeds for general corporate purposes, including working capital, capital expenditures, debt repayment and the acquisition of river vessels or ocean cruise ships.

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