Viking Cruises Ltd Announces Pricing of Private Offering of $720 Million of Senior Notes

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Jun 26, 2023, 21:48 ET

LOS ANGELES, June 26, 2023 /PRNewswire/ -- Viking Cruises Ltd ("Viking") today announced that it has priced its private offering of $720 million aggregate principal amount of 9.125% Senior Notes due 2031 (the "Notes"). The offering of the Notes is expected to close on June 30, 2023, subject to customary closing conditions.

Viking intends to use the net proceeds from the Notes, together with cash on hand, to fund the planned redemption of Viking's 13.000% Senior Secured Notes due 2025 (the "2025 Secured Notes"), the planned satisfaction and discharge of the indenture governing the 2025 Secured Notes and related fees and expenses. Any redemption would be made solely pursuant to the notice of redemption delivered pursuant to the indenture governing the 2025 Secured Notes and the information in this press release is qualified in its entirety by such notice.

The Notes are being offered only to persons reasonably believed to be "qualified institutional buyers" as defined in Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to certain non-U.S. persons outside the United States under Regulation S under the Securities Act. The Notes have not been, and will not be, registered under the Securities Act and may not be offered or sold without registration unless pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and all applicable state laws.

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any of the Notes, nor does it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. This press release also does not constitute a notice of redemption under the optional redemption provisions of the indenture governing the 2025 Secured Notes.

Forward-Looking Statements

This press release contains statements regarding beliefs and expectations of the outcome of future events that are forward-looking statements, including, without limitation, statements with respect to the use of proceeds of the Notes. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. Viking takes no responsibility for updating the information contained in this press release following the date hereof to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events.

About Viking Cruises Ltd

Viking was founded in 1997 and provides destination-focused journeys on rivers, oceans and lakes around the world. Designed for experienced travelers with interests in science, history, culture and cuisine, Chairman Torstein Hagen often says Viking offers experiences for The Thinking Person™. Viking has more than 250 awards to its name, including being the first cruise line to ever be named both the #1 Ocean Line and the #1 River Line in a single year in Travel + Leisure's 2022 "World's Best" Awards. Viking has also been rated the #1 River Line and #1 Ocean Line by Condé Nast Traveler in the publication's 2022 and 2021 Readers' Choice Awards.

SOURCE Viking