Norwegian Cruise Line Holdings Strengthens Liquidity - Update

Norwegian Cruise Line Holdings Strengthens Liquidity - Update

May 6, 2020 - Last week, Norwegian Cruise Line Holding felt compelled to comment on the company's liquidity situation. The cruise group, which consists of three brands, is serious. Every month, 100 to 150 million US dollars of liquidity are "burned". Even though most ships are in a "cold lay up" (emergency operation).

According to the company, the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands would be at great risk if the worst-case scenario was calculated over a year with “zero” sales.

Norwegian Epic in the roadstead off Cannes

Norwegian Epic in the roadstead off Cannes


The holding company announces that it has worked with investment bank Goldman Sachs to generate $ 2,225 billion in liquidity. The transaction also includes the $ 400 convertible bond issued by the fund company Catterton Partner, which we reported on earlier today. The financial transactions do not change anything in the agreed and announced cost savings.

Depending on the implementation of these additional liquidity-generating measures, the group would now have an estimated US $ 3,5 billion in cash. The board of directors, the employees of the three brands and also the customers who have opted for Future Cruise Credits (FCC) can take a deep breath.

 

 

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