Viking Cruises takes in tenders for $385.58 million 8½% notes due 2022

By Susanna Moon

Chicago, Sept. 20 – Viking Cruises Ltd. said investors had tendered $385,584,000 principal amount, or 73.4%, of its outstanding $525 million 8½% senior notes due 2022.

The tender offer ended at 5 p.m. ET on Sept. 19.

Viking accepted all the tendered notes for purchase on Wednesday and plans to call the remaining notes, according to a company notice.

The amount excludes $19,000 principal amount of notes tendered under guaranteed delivery procedures, the company said.

As announced Sept. 12, the company was offering $1,047.70 per $1,000 principal amount of tendered notes plus accrued interest to but excluding the settlement date.

The offer required that Viking close a new offering of unsecured notes, but there was no minimum tender condition.

Viking said it sold $550 million principal amount of 5 7/8% senior notes due 2027 with proceeds to be used to fund the offer as well as the planned redemption of the notes.

Wells Fargo Securities, LLC (866 309-6316 or 704 410-4759) is the dealer manager. D.F. King & Co., Inc. (866 628-8528, 212 269-5550 or vcl@dfking.com) is the information agent.

Viking is a Woodland Hills, Calif.-based river cruising company.

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