Conyers assisted Lindblad Expeditions Holdings, LLC (the “Issuer”) in connection with Cayman Islands law aspects of its recent issue of US$275,000,000 9.00% Senior Secured Notes due 2028.
The Issuer used a portion of the net proceeds from the offering to prepay in full all outstanding borrowings under its existing Export Credit Facilities on the closing date. The remaining net proceeds will be used to fund the costs of the offering and for working capital and general corporate purposes, which may include strategic growth initiatives.
The Conyers team consisted of Partner Matthew Stocker in the Cayman Islands and Counsel Barnabas Finnigan in London.
Wilmington Trust, National Association acted as trustee, principal paying agent, transfer agent, registrar and collateral trustee. Citigroup, Credit Suisse and J.P. Morgan acted as book-running managers.
Skadden, Arps, Slate, Meagher & Flom LLP and Foley & Lardner LLP acted as co-counsel to Lindblad. Shearman & Sterling LLP acted as legal counsel to the Administrative Agent and Notes Trustee.