Viking Cruises gets needed consents to amend 8˝% notes due 2022

By Marisa Wong

Madison, Wis., July 16 – Viking Cruises Ltd. said it received the necessary consents from holders of its outstanding 8˝% senior notes due 2022 to adopt the proposed amendments to the indenture governing the notes.

As previously announced, the amendments provide the company with financial and operating flexibility.

The company needed consents from holders of a majority of the outstanding notes voting as a single class.

The consent solicitation began on July 7 and expired at noon ET on July 16, previously extended from 5 p.m. ET on July 15. Holders had to be of record as of 5 p.m. ET on July 3 to participate.

The company will pay a consent fee of $30 per $1,000 principal amount of notes to holders of record who delivered their consents by the expiration time. The consent fee will be paid once the offer’s conditions, including a financing condition, are satisfied.

Viking executed a supplemental indenture incorporating the changes to the 8˝% notes on Tuesday. The proposed amendments will not become operative until the conditions to the consent solicitation are satisfied or waived and the consent fee is paid.

Wells Fargo Securities, LLC (attn: liability management group, 866 309-6316 or collect 704 410-4760) is the solicitation agent. D.F. King & Co., Inc. (800 758-5378 or collect 212 269-5550) is the information and tabulation agent.

The issuer is a Woodland Hills, Calif.-based river and ocean cruising company.

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