Norwegian Cruise Line Wraps Up Junk-Bond Sale for Refinancing

Norwegian Cruise Line Holdings Ltd. sold $1.6 billion of notes Thursday to refinance the expensive debt it took out in 2020 to weather the global lockdowns amid the pandemic.

The company tapped the U.S. junk-bond market to sell $1 billion of secured notes due in 2027 and $600 million of unsecured notes due in 2029, according to a statement. It is also offering $435 million of exchangeable notes due in 2027 in a private offering.

The secured notes priced with a yield of 5.875%, and the unsecured portion at 7.75%, according to a person familiar with the matter who ...