NCLH · 8-K · 20261029PR006957

Debt Refinancing and Liquidity

Norwegian Cruise Line Holdings Ltd. · 2026-10-29 · Importance 58 · Surprise 42 · No source text

At September 30, 2026, total debt was $15.1 billion, Net Debt was $14.8 billion, and Net Leverage was 5.5x. Pro forma for the subsequent $950 million issuance of 8.750% senior notes due 2031 and an increase in the revolving facility from approximately $2.5 billion to $2.8 billion, liquidity was $2.1 billion, including $257 million of cash and $1.8 billion of revolver availability. The company reported no significant debt maturities until 2029 and said reducing Net Leverage is a priority.

Key facts

• Norwegian Cruise Line Holdings Ltd. completed the issuance of $950 million of senior notes due 2031 on October 15, 2026. source
• Norwegian Cruise Line Holdings Ltd. completed issuance of $950 million of 8.750% senior notes due 2031 after quarter-end and upsized its Revolving Loan Facility. source
• Norwegian Cruise Line Holdings Ltd. increased its Revolving Loan Facility from approximately $2.5 billion as of September 30, 2026 to approximately $2.8 billion in October 2026. source
• On a pro forma basis after the debt issuance and Revolving Loan Facility upsizing, liquidity as of September 30, 2026 would have been $2.1 billion, including approximately $257 million of cash and cash equivalents and $1.8 billion of revolving-facility availability. source
• As of September 30, 2026, Norwegian Cruise Line Holdings Ltd. had total debt of $15.1 billion, Net Debt of $14.8 billion and Net Leverage of 5.5x. source

Impact estimates