NCL Files for $250 Million IPO, NCLH Will Be Stock Symbol

[ktpc2005]

(Reuters) - Global cruise line operator Norwegian Cruise Line Holdings Ltd filed with U.S. regulators to raise up to $250 million in an initial public offering.

 

After the company reorganizes itself following the close of the offering, it will become the parent company of NCL Corporation, which shelved its plans to go public, according to a filing with the U.S. Securities and Exchange Commission.

T

he Miami, Florida-based company, which generated $2.09 billion in revenue in the year ended March 31, 2011, offers cruises to North America, the Mediterranean, the Baltic, Central America, Bermuda and the Caribbean.

 

Norwegian Cruise Line intends to use proceeds from the offering to repay debt and plans to list its shares on Nasdaq under the symbol "NCLH."

 

UBS, Barclays Capital and Goldman Sachs & Co are the underwriters of the IPO.

 

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO can be different. (Reporting by Rachel Chitra in Bangalore; Editing by Sriraj Kalluvila)

 

 

 

http://www.reuters.com/article/2011/07/15/norwegiancruise-idUSL3E7IF1X720110715

[cruising 2013]

I fear for the future of NCL with this news. Many a great company has fallen apart when they stop looking at who has made them what they are their employees and their customers and start becoming accountable to shareholders looking for huge returns on their investments. This causes them to cut every corner that they can in order to boost the bottom line and keep the shareholders happy. I hope this won't be the case with NCL but I fear the worst.

[shof515]

if they do become a publicly traded company, then they should offer cruisers OBC if they buy 100 shares of stock similar to what CCL does

[smeyer418]

This was always in the cards as soon as Apollo made an investment in them. Its always a few years and they either go public or sell to another private investor. They want to make their money and move on. All the things they have done is to add to their bottom line so that it would be attractive to the general public and institutional investors(where most of the money is)....although personally I think its a strange time to do a public offering unless they have bonds that are coming due and need the money...

[martinchem]

This has been ongoing for a year.

[mpk218]

I think its great and lets keep in mind that this offering is peanuts , $250 ml. is drop in the bucket.

Heres the filing.

 

http://www.sec.gov/Archives/edgar/data/1318742/000119312511188859/df4.htm

[shof515]

I think its great and lets keep in mind that this offering is peanuts , $250 ml. is drop in the bucket.

Heres the filing.

 

http://www.sec.gov/Archives/edgar/data/1318742/000119312511188859/df4.htm

 

wow..looks like NCL still owes alot of cash on some of the ships they have...:confused:

[Army/Police Vet]

I fear for the future of NCL with this news. Many a great company has fallen apart when they stop looking at who has made them what they are their employees and their customers and start becoming accountable to shareholders looking for huge returns on their investments. This causes them to cut every corner that they can in order to boost the bottom line and keep the shareholders happy. I hope this won't be the case with NCL but I fear the worst.

 

I am not sure there are anymore corners they can cut. The last few years have been pretty drastic.

[jmcdon7230]

I am not sure there are anymore corners they can cut. The last few years have been pretty drastic.

 

I see a "daily non-optional room cleaning fee" on the horizon. Any others?

[ancldaca]

I think its great and lets keep in mind that this offering is peanuts , $250 ml. is drop in the bucket.

Heres the filing.

 

http://www.sec.gov/Archives/edgar/data/1318742/000119312511188859/df4.htm

 

Please note that this filing is for a $250m bond issue (to swap debt) not the filing for the stock IPO.

[tiyana4]

if they do become a publicly traded company, then they should offer cruisers OBC if they buy 100 shares of stock similar to what CCL does

 

I agree. It would certainly make a nice incentive.

[shof515]

Norwegian IPO on Hold for Better Market Conditions

Tuesday, 19 July 2011

 

Norwegian Cruise Line’s IPO will not take place any time soon, according to company President and CEO Kevin Sheehan, who cleared up recent confusion by saying that all that has happened is that the cruise line filed an amendment to its recent IPO filing. The company recently withdrew its original S-1 registration from last October for a new filing. Sheehan said that an IPO will happen when market conditions are right and that they are not suitable at the moment, noting that both Carnival and Royal Caribbean were trading at discounts to their historical values. Norwegian is still looking to raise $250 million most of which has been earmarked for paying down debt.

 

As of March 31, 2011, Norwegian’s balance sheet listed assets of approximately $5.5 billion, including cash and property, total debt of about $3.8 billion and shareholder equity of $1.7 billion.

 

Meanwhile, Sheehan said Norwegian will be reporting a strong Q3 and that the company is doing well in the Mediterranean despite widespread discounting. In related developments,

 

Norwegian has also filed a new F-4 allowing note holders to exchange their existing notes, limited to institutional investors, for new notes, available to non-institutional investors as well. The terms remain the same and the 9.50 percent notes mature in 2018.

 

from:

http://www.cruiseindustrynews.com/cruise-news/5889-norwegian-ipo-on-hold-for-better-market-conditions.html

[CruisinMaterial]

I think its great and lets keep in mind that this offering is peanuts , $250 ml. is drop in the bucket.

Heres the filing.

 

http://www.sec.gov/Archives/edgar/data/1318742/000119312511188859/df4.htm

 

Wow... this link just blew my mind. I'm trying to decipher it. I'm good with legal stuff but this is so much - it's overwhelming! Definitely something to bookmark for a later date! :eek::D

[smeyer418]

from:

http://www.cruiseindustrynews.com/cruise-news/5889-norwegian-ipo-on-hold-for-better-market-conditions.html

 

 

its pretty funny he said what I said above....the need it to pay off debt that is coming due. other than that its not a time to take this public....

[newmexicoNita]

if they do become a publicly traded company, then they should offer cruisers OBC if they buy 100 shares of stock similar to what CCL does

 

I am hoping they will. It is too soon to know what thier intent will be.

[newmexicoNita]

I see a "daily non-optional room cleaning fee" on the horizon. Any others?

 

You can't be serious. How many lines have you cruised in the past few years? How many cuts have you seen? NCL is not much different from the rest of the lines. Food quality has gone down on all lines, I actually think it has improved on NCL the past couple of years, but that is subjective and a personal opinion. the only real cuts was the bubbly and the coffee makers as well as a few similar things. They were really not what I think of as cuts, they were more trial benies, as they were only offered for a year or so. They have changed some of the speicaily dining rooms from free to charge, but how many lines have ethnic dining offered free? NONE!! ( I am talking mass marketed lines I will add) I have clients that just got back from one of the upscale but still mass marketed lines. They paid $35 a person for dinner in the specialty dining room. ALthought they said the food was good, it wasn't outstanding, the service sucked and a glass of wine which was suggested by the wine steward was $24 a glass. No, they didn't ask and yes, they realize it was their mistake, but still, let's be fair, cruising is changing.

 

Nita

[auntierobin]

We cruise on NCL, we are going to buy some of the stock. Sort of an investment in our future vacations.

 

We also own timeshares run by a major hotel chain, we always stay at their properties, we also bought stock in the company.

 

We feel that if it is a product that we like and use frequently, why not buy a few shares (and I mean a few).

[cruise pup]

Food quality has gone down on all lines, I actually think it has improved on NCL the past couple of years, but that is subjective and a personal opinion. the only real cuts was the bubbly and the coffee makers as well as a few similar things.

Nita

 

Can't say I agree with you here. The food has definitely not improved. Lunch in the mdr used to be a rotating menu. Now it's the same menu every day. The shrimp cocktail served at dinner are miniscule shrimp. The buffet on the Norwegian Sun was the worst buffet I have ever experienced on a major cruise line. Now a few years ago I was singing the praises of the food I had on the Jewel and the Gem but my 2 last cruises on NCL proved otherwise.

[mpk218]

Please note that this filing is for a $250m bond issue (to swap debt) not the filing for the stock IPO.

 

Sorry that was the F-4 heres the S-1

 

 

http://sec.gov/Archives/edgar/data/1513761/000119312511188844/ds1.htm

 

Ordinary Shares

NORWEGIAN CRUISE LINE HOLDINGS LTD.

 

 

This is the initial public offering of our ordinary shares, par value $.001 per share, which we refer to as our ordinary shares. We are a newly formed holding company which, upon the consummation of this offering, will own 100% of the ordinary shares of NCL Corporation Ltd. and will be the issuer of the ordinary shares being offered hereby. We are selling an aggregate of ordinary shares in this offering.

[jmcdon7230]

...You can't be serious. How many lines have you cruised in the past few years? How many cuts have you seen? NCL is not much different from the rest of the lines.....

 

Nita

 

Actually I wasn't being serious, but I can see how the "room cleaning fee" could be very successful and imitated by other main stream lines as many other NCL innovations are. Our last cruise was on the Epic and we spent time amusing ourselves as to how we could possibly enhance the bottom line any more than it was being enhanced.

[4774Papa]

I fear for the future of NCL with this news. Many a great company has fallen apart when they stop looking at who has made them what they are their employees and their customers and start becoming accountable to shareholders looking for huge returns on their investments. This causes them to cut every corner that they can in order to boost the bottom line and keep the shareholders happy. I hope this won't be the case with NCL but I fear the worst.

Disagree, shareholders looking for returns are not inimical to how a firm treats its customers. This is normal in a free enterprise system. In any event cruise companies are in this business to make a profit.