Viking Cruises to price $550 million 10-year notes on Wednesday

By Paul A. Harris

Portland, Ore., Sept. 12 – Viking Cruises Ltd. plans to take part in a conference call with investors at 11:30 a.m. ET on Wednesday ahead of the pricing of new notes, according to a syndicate source.

The cruise line operator plans to price $550 million of 10-year senior notes (expected ratings B3/B) following the call, on Wednesday afternoon.

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

The notes become callable after five years at par plus 50% of the coupon.

Viking Cruises plans to use the proceeds to fund a tender offer for any and all of its notes due in 2022.

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