Norwegian Gets $400 Million But Isn’t Sure It Can Survive
- L Catterton provides infusion through private placement
- Norwegian might not stay a going concern, it warns in filing
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Norwegian Cruise Line Holdings Ltd. secured a $400 million investment from private equity firm L Catterton, but it also told the U.S. Securities and Exchange Commission that the disruption from the coronavirus pandemic means the travel company might not survive.
L Catterton is making the infusion into Norwegian’s NCL Corp. unit through a private placement of exchangeable senior notes due in 2026, NCL said in a statement Tuesday. The private equity firm will receive a board seat and a board observer.