May 2020
Conyers advised L Catterton in respect of its investment by way of private placement by Norwegian Cruise Line Holdings Limited of up to US$400 million in aggregate principal amount of exchangeable senior notes due 2026. The Private Exchangeable Notes will accrue payment-in-kind interest at a rate of 7.0% per annum for the first year post-issuance, 4.5% per annum payment-in-kind interest plus 3.0% per annum cash interest for the following four years post issuance and 7.5% in cash for the final year prior to maturity.
Directors Neil Henderson, Victor Richards and Counsel Robert Alexander of Conyers’ Bermuda office advised on this matter, working alongside Gibson Dunn.