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Windstars parent company doing better

rogerc1944

By rogerc1944,
in Windstar Cruises

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rogerc1944

rogerc1944

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Travel Weekly posted a new story on Windstars' parent company. Things are looking up.

 

 

Windstar's parent unveils debt-reduction plan

By: Michelle Baran

September 11, 2009

Ambassadors International, parent of Windstar Cruises, on Friday announced a plan to reduce outstanding debt by up to $70.5 million.

 

Ambassadors' offer to noteholders is to exchange $97 million in outstanding convertible notes for a combination of senior notes and 22.3 million shares of newly-issued stock, or about two-thirds of the company’s outstanding common stock.

 

The deal must be approved by shareholders.

 

Following the news, Ambassadors’ stock was up 67%, to $1.35, at noon on Friday.

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