Time for NCLH financial-related posts?

[wcsdkqh]

I may be mistaken, but I'd be very surprised if CC company would accept such a claim until the amount of refund or FCC is actually written-off by the cruise line thru bankruptcy or some other legal process and is considered lost.

[slidebite]

For a FCC, probably not, but for a paid in full cruise that didn't happen and the time has come and gone, I think they might. I'll do some checking today.

 

I'm not sure what the time window is... but for myself I did purchase insurance for the first time ever so hopefully I should be covered either way.

[btreklaw]

Even if you have an FCC from Regent, dispute it with your CC company and or insurance company. You will end up with your money back. Don't wait.

Edited May 5, 2020 by btreklaw

[Foyt]

10 minutes ago, wcsdkqh said:

I may be mistaken, but I'd be very surprised if CC company would accept such a claim until the amount of refund or FCC is actually written-off by the cruise line thru bankruptcy or some other legal process and is considered lost.

Believe you are mistaken.  Know of several people who have put in disputes regarding refunds that the credit card companies have accepted and passed on to the cruise lines.  A lot depends on how the dispute is worded.

[shuguley]

I can't help but believe that this is the last nail in the coffin for NCLH.  After today's announcement who in the world is going to book a future cruise and pay the deposit on a cruise line that may go out of business?  Also, who is going to make a final payment on an already booked cruise under these circumstances?  Everyone caught in the middle will be doing everything possible to get as much of their money back as they can so the cash outflow at NCLH will become even more negative.

 

Unless NCLH is able to get more outside financing (which seems unlikely) the speed of the death spiral will begin today to increase.  So sad but life as we once knew it will never return when all of this is over. 

[JVNYC]

1 minute ago, shuguley said:

I can't help but believe that this is the last nail in the coffin for NCLH.  After today's announcement who in the world is going to book a future cruise and pay the deposit on a cruise line that may go out of business?  Also, who is going to make a final payment on an already booked cruise under these circumstances?  Everyone caught in the middle will be doing everything possible to get as much of their money back as they can so the cash outflow at NCLH will become even more negative.

 

Unless NCLH is able to get more outside financing (which seems unlikely) the speed of the death spiral will begin today to increase.  So sad but life as we once knew it will never return when all of this is over. 

 

Totally agree with you.  Why on earth would someone keep their money with them in hopes things will turnaround?!  That cruise you're holding out for won't look anything like you've had before.  Maybe NCLH will go down so Carnival and RCCL can survive. 

 

[mrlevin]

I think someone like Mark Conroy or Jason Montague can restart the Regent brand with the three twenty year old ships that are fully paid for and recently modernized.  No fancy art, no culinary kitchens, no $200,000 beds.

 

At least that is my hope.

 

Marc

[Pcardad]

Did no one read this?

 

Today the Company has launched a series of capital markets transactions, led by Goldman Sachs, which are expected to raise approximately $2 billion. These transactions are expected to consist of 1) $350 million public offering of common equity, 2) $650 million exchangeable senior notes offering, 3) $600 million senior secured notes offering and 4) $400 million private placement from global consumer-focused private equity firm L Catterton.

Contingent on completion of the transactions, the Company expects to have approximately $3 billion of liquidity. This strengthens the Company’s financial position and ensures it is well positioned to withstand well over 12 months of voyage suspensions in a potential downside scenario. While this is not the Company’s base case expectation, the Company has taken a proactive approach to protect its future given the significant uncertainty and unknown duration of the COVID-19 global pandemic. 

[liptastic]

Well let’s hope this saying that gets frequently quoted by certain posters,  that Regent goes above and beyond comes to fruition. 

Many of us have lots of money involved here and I sure hope that they do the right and honest thing here and repay exactly what they have said they will in their statements.  Jean

[pingpong1]

5 minutes ago, shuguley said:

I can't help but believe that this is the last nail in the coffin for NCLH.  After today's announcement who in the world is going to book a future cruise and pay the deposit on a cruise line that may go out of business?  Also, who is going to make a final payment on an already booked cruise under these circumstances?  Everyone caught in the middle will be doing everything possible to get as much of their money back as they can so the cash outflow at NCLH will become even more negative.

 

Unless NCLH is able to get more outside financing (which seems unlikely) the speed of the death spiral will begin today to increase.  So sad but life as we once knew it will never return when all of this is over. 

Unless I'm mistaken (happens all the time), I believe NCLH actually has just gotten some new outside financing today.  Perhaps enough to "keep it going" for another 12 months or until a successful vaccine is available and their cash flow starts moving in a bit more positive direction.

 

As to your comment regarding, "who in the world is going to book a future cruise....."  I'll have to raise my hand and plead, "guilty as charged".  I'm currently booked on a Dec 2021 Mariner Panama Canal cruise which I really, really hope actually sails as planned.  And 2 of my friends have also just put a deposit down on that same cruise.  I think our cautious optimism was based on a belief that COVID would not be the same "issue" 19 months from now, as it is today.  And our decision-making process didn't factor in any thought with respect to whether or not Regent would still "be in business" in December 2021.  And if they aren't, well...that's just the way "things go".  I'm assuming that deposits will eventually be returned if the cruise doesn't sail.  Who knows?  I'm not going to "stop living" and planning for the future.  Regards.   

[Travelcat2]

From our Regent through our TA:

 

Please see below for our reactive statement.  As you can see this is very positive for our company.  

Today the Company has launched a series of capital markets transactions, led by Goldman Sachs, which are expected to raise approximately $2 billion. These transactions are expected to consist of 1) $350 million public offering of common equity, 2) $650 million exchangeable senior notes offering, 3) $600 million senior secured notes offering and 4) $400 million private placement from global consumer-focused private equity firm L Catterton.

Contingent on completion of the transactions, the Company expects to have approximately $3 billion of liquidity. This strengthens the Company’s financial position and ensures it is well positioned to withstand well over 12 months of voyage suspensions in a potential downside scenario. While this is not the Company’s base case expectation, the Company has taken a proactive approach to protect its future given the significant uncertainty and unknown duration of the COVID-19 global pandemic. 

Please let me know if you have any questions.

Thanks

 

Jerod R. Evans | Director of Sales & Marketing, Central U.S.

[Pcardad]

1 minute ago, Travelcat2 said:

From our Regent through our TA:

 

Please see below for our reactive statement.  As you can see this is very positive for our company.  

Today the Company has launched a series of capital markets transactions, led by Goldman Sachs, which are expected to raise approximately $2 billion. These transactions are expected to consist of 1) $350 million public offering of common equity, 2) $650 million exchangeable senior notes offering, 3) $600 million senior secured notes offering and 4) $400 million private placement from global consumer-focused private equity firm L Catterton.

Contingent on completion of the transactions, the Company expects to have approximately $3 billion of liquidity. This strengthens the Company’s financial position and ensures it is well positioned to withstand well over 12 months of voyage suspensions in a potential downside scenario. While this is not the Company’s base case expectation, the Company has taken a proactive approach to protect its future given the significant uncertainty and unknown duration of the COVID-19 global pandemic. 

Please let me know if you have any questions.

Thanks

 

Jerod R. Evans | Director of Sales & Marketing, Central U.S.

 

Been posting it for an hour - people just want to read the bad news and ignore the fact that NCL now has sufficient liquidity for a long time. 

[Gray Eagle02]

3 minutes ago, Pcardad said:

 

Been posting it for an hour - people just want to read the bad news and ignore the fact that NCL now has sufficient liquidity for a long time. 

I did read what was posted but the email did not say these transactions had been completed. ( “ Contingent on the completion of these transactions...”).

[shuguley]

I am totally confused.  If NCLH knew that they were working on additional cash infusion options why in the world would they release a statement today that said there was "substantial doubt” about its ability to continue as a “going concern”.  The statement of "substantial doubt" does nothing but strike fear in the minds of passengers and potential passengers.

[Pcardad]

2 minutes ago, shuguley said:

I am totally confused.  If NCLH knew that they were working on additional cash infusion options why in the world would they release a statement today that said there was "substantial doubt” about its ability to continue as a “going concern”.  The statement of "substantial doubt" does nothing but strike fear in the minds of passengers and potential passengers.

 

Because one is required by the SEC and the other was an afterthought when they realized people would panic.

[Wendy The Wanderer]

3 minutes ago, shuguley said:

I am totally confused.  If NCLH knew that they were working on additional cash infusion options why in the world would they release a statement today that said there was "substantial doubt” about its ability to continue as a “going concern”.  The statement of "substantial doubt" does nothing but strike fear in the minds of passengers and potential passengers.

 

Me too.  Confused.  Since I'm waiting for a ~C$30K refund, I'm very interested.  I'm calling Amex tomorrow.

[Pcardad]

Currently on the phone with Regent - there are ZERO calls in the queue so not everyone thinks the sky is falling.

[Wendy The Wanderer]

1 minute ago, Pcardad said:

Currently on the phone with Regent - there are ZERO calls in the queue so not everyone thinks the sky is falling.

 

Well gee, if their call center can be so efficient, why can't their accounts department?  Why can't they get those refunds out to us in a timely fashion?

[Pcardad]

My opinion - their call system doesn't accrue calls from previous days like their cancellations department does...so their workload isn't overwhelmed....it resets to zero daily. 

[Travelcat2]

35 minutes ago, Pcardad said:

Did no one read this?

 

Today the Company has launched a series of capital markets transactions, led by Goldman Sachs, which are expected to raise approximately $2 billion. These transactions are expected to consist of 1) $350 million public offering of common equity, 2) $650 million exchangeable senior notes offering, 3) $600 million senior secured notes offering and 4) $400 million private placement from global consumer-focused private equity firm L Catterton.

Contingent on completion of the transactions, the Company expects to have approximately $3 billion of liquidity. This strengthens the Company’s financial position and ensures it is well positioned to withstand well over 12 months of voyage suspensions in a potential downside scenario. While this is not the Company’s base case expectation, the Company has taken a proactive approach to protect its future given the significant uncertainty and unknown duration of the COVID-19 global pandemic. 

 

Sorry for posting what you already posted.  Was in between phone calls and emails to all of my cruising friends.  We are all in a holding mode right now.

[Pcardad]

I didn't mean you....I hate typing, it never properly conveys my thoughts. 

 

I don't know why NCLH is so bad at communication...but they have been working on this financing for a good while and they would not release it unless they were confident in it going through.

 

For what it's worth, I just gave an earful to my contacts at Regent about their lack of communication in a time when people deserve to know what the heck is going on. A real missed opportunity this is.

[pappy1022]

10 minutes ago, Wendy The Wanderer said:

 

Well gee, if their call center can be so efficient, why can't their accounts department?  Why can't they get those refunds out to us in a timely fashion?

Because they don't have the cash to process all of the cancellations. This is a deliberate act on their part to manage cash flow while they cut costs and scramble for financing to stay alive.

[RJ2002]

19 minutes ago, Gray Eagle02 said:

I did read what was posted but the email did not say these transactions had been completed. ( “ Contingent on the completion of these transactions...”).

 

Correct, lots of "if's" related to the proposed cash infusions.   Let's hope they all come through and NCLH can pull through.  It looks challenging at the moment.

 

Shares of Norwegian Cruise Line Holdings Ltd. took a dive Tuesday, after the cruise operator issued a “going concern” warning, citing the impact of the coronavirus pandemic on its business, and the fact that management’s plan to obtain additional financing has not yet been completed.

 

https://www.marketwatch.com/story/cruise-stocks-rocked-after-norwegian-cruise-issues-going-concern-warning-2020-05-05?mod=bnbh_mwarticle

[pappy1022]

30 minutes ago, Pcardad said:

 

Been posting it for an hour - people just want to read the bad news and ignore the fact that NCL now has sufficient liquidity for a long time. 

And some want to ignore the obvious that this is a real threat to Regent's existence. These are very tough times for the cruise industry and their existence is in jeopardy if it doesn't turn around soon. If Regent is successful in getting new sources for cash, I bet the interest rate is way above market and that will add to their debt and cash flow woes. All I want is my deposit money back and hope that Regent does survive in some form. I very much enjoy cruising with Regent and sincerely hope they can weather the storm.

[Foyt]

First $400M complete, other $1.6B pending

 

https://www.seatrade-cruise.com/news/nclh-gets-400m-l-catterton-investment-offers-stock-private-exchangeable-notes-senior-notes?NL=ST-004&Issue=ST-004_20200505_ST-004_814&sfvc4enews=42&cl=article_1_b&utm_campaign=STRADE_News_Seatrade Cruise News Weekly Headline_News_NL_05052020_576&utm_emailname=STRADE_News_Seatrade Cruise News Weekly Headline_News_NL_05052020_576&utm_medium=email&utm_source=Eloqua&utm_MDMContactID=a043e27b-cb97-47d6-86cd-c68edeeeef41&utm_campaigntype=Newsletter&utm_sub=Seatrade Cruise News Latest Headlines&eM=dd71f9cac1f372bccde63ff20d0b35f7736bdda7a135f2560c14b4f1e951ac88&eventSeriesCode=ES_SEATRDCRSCTNT&eventEditionCode=MTM00SCC&SessionCode=Seatrade Cruise News Weekly (Newsletter)