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Norwegian Cruise Lines $350 million 10-year notes talked in area of 9¾%
By Paul A. Harris
St. Louis, May 6 - Price talk in the area of 9¾% emerged Thursday on NCL Corp. Ltd.'s (Norwegian Cruise Lines) $350 million offering of 10-year senior notes (B2/B+), according to a market source.
The deal is expected to price on Friday.
JP Morgan is the bookrunner for the Rule 144A/Regulation S offering.
The notes will come with five years of call protection.
Proceeds will be used to repay bank debt and for general corporate purposes including the potential construction of new cruise ships.
The issuer is a wholly owned subsidiary of Kowloon, Hong Kong-based Star Cruises Ltd.
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