Malaysia's NCL plans to issue $200 million 10-year bonds

By Reshmi Basu

New York, July 8 - NCL Corp. Ltd. is planning to issue a $200 million 10-year bond, (B2/B+) according to a market source.

NCL is a direct wholly owned subsidiary of Star Cruises Ltd., a Kuala Lumpur, Malaysia cruise ship operator.

The company had planned to sell $350 to $450 million of 10-year senior notes via JP Morgan in early May but shelved the deal because of market conditions. Proceeds from the sale were slated to repay bank debt and for general corporate purposes including the potential construction of new cruise ships.

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