Regent Seven Seas Cruises to start roadshow Friday for $200 million seven-year secured notes

By Paul A. Harris

St. Louis, Jan. 21 - Regent Seven Seas Cruises will start a roadshow on Friday for its $200 million offering of seven-year second-lien senior secured notes, according to an informed source.

The company will host a global investor call at 12:30 p.m. ET on Monday.

The roadshow wraps up on Jan. 28.

Barclays Capital Inc., HSBC Securities and Deutsche Bank Securities Inc. are joint bookrunners for the Rule 144A and Regulation S with registration rights offering.

DnB Nor, DVB Bank and UBS Investment Bank are co-managers.

The notes will be secured by second-priority mortgage liens on the issuer's three passenger cruise ships and a second-priority security interest in all earnings, proceeds of insurance and certain other interests related to those ships, subject to certain exceptions and permitted liens.

The notes will come with four years of call protection.

Credit ratings remain to be determined.

Proceeds will be used to refinance debt and for general corporate purposes.

The prospective issuer is a Fort Lauderdale, Fla., cruise ship company.

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