Feb 2022
Conyers has assisted Lindblad Expeditions, LLC in connection with Cayman Islands law aspects of its recent issue of US$360,000,000 6.750% Senior Secured Notes due 2027 and its entry into a secured credit facility. The net proceeds of the bond issue are to be used to prepay in full all outstanding borrowings under Lindblad’s existing term loan and revolving credit facility, to pay any related premiums, and to terminate in full its existing credit agreement and the commitments thereunder. The new financing will add bonds to the company’s capital structure.
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, and Credit Suisse (Cayman Islands Branch) was administrative agent.
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, and Alston & Bird acted as counsel to Wilmington Trust.