Norwegian Cruise Holdings Ltd (NSYE: NCLH) late Thursday announced it has raised $250 million in its public offering.

The company priced about 16.6 million shares at $15 each. Underwriters for the offering can exercise a greenshoe option to purchase up to 2.5 million additional shares.

The cruise company said it expected to use the proceeds of the offering for "general corporate purposes."

JP Morgan (JPM), Barclays Plc (BCS), Citigroup (C), and subsidiaries of Goldman Sachs Group Inc (GS), Mizuho Financial Group Inc's (MFG), and UBS Group AG (UBS) are acting as joint book running managers for the offering.

Norwegian also announced a debt offering to the tune of $750 million in six-year senior secured notes and $400 million of exchangeable five-year senior notes.

The proceeds raised from the debt would be used to repay its $675 million senior secured revolving facility, and to pay any related transaction fees and expenses, the Miami-based company said. The remainder, if any, is to be used for general corporate purposes.

The mixed offering of stock and debt comes at a time when Miami-based Norwegian has been hit hard by the COVID-19 pandemic, with most cruises suspended till October.

Price Action

Norwegian shares closed 15.62% lower at $15.61 on Thursday, and traded another 0.7% lower at $15.6 in the after-hours session.