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To: Capt. Tom

I suspect a lot of these companies are really just looking for ways to cover their own asses and protect themselves from lawsuits in the event of an outbreak on one of their ships.


8 posted on 12/13/2020 8:03:29 AM PST by Alberta's Child ("There's somebody new and he sure ain't no rodeo man.")
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To: Alberta's Child
I suspect a lot of these companies are really just looking for ways to cover their own asses and protect themselves from lawsuits in the event of an outbreak on one of their ships.

The problem the Cruise Lines have economically, is they never expected to be shut down for so long.
Each month they don't make expenses is a month closer to bankruptcy.
Norwegian has borrowed more money several times in the past since they got shut down.

Below is from today's Cruise Line Industry News.- Tom

Norwegian Cruise Line Holdings To Raise Another $500 Million December 15, 2020

Norwegian Cruise Line Holdings announced today that it is proposing to sell $500 million aggregate principal amount of its senior notes due 2026 in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”).

The company expects to use the net proceeds from the offering for general corporate purposes. The Notes will be guaranteed by certain subsidiaries on a senior unsecured basis.

The company’s fourth quarter estimated cash burn is $175 million per month.

67 posted on 12/15/2020 10:24:18 AM PST by Capt. Tom (It's COVID 2020 - The Events, not us, are in charge -Tom)
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