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NCL Signs Memorandum Of Agreement For Purchase Of Norwegian Sky

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Norwegian Cruise Line (NCL Corporation Ltd., "Norwegian" or "the Company") announced this week the signing of a memorandum of agreement to exercise its option to purchase Norwegian Sky. The transaction is expected to close shortly.

The Company currently operates Norwegian Sky under a Bareboat Charter with a purchase option from Ample Avenue, an indirect wholly-owned subsidiary of Genting Hong Kong Limited, a 50% owner of the Company. The purchase price is approximately $260 million pursuant to the option under the Bareboat Charter. Financing is being provided by the seller.

The 2,002-berth Norwegian Sky currently operates three- and four-day cruises to the Bahamas year-round from Miami. The three-day Bahamas cruise departs on Fridays and includes stops in Nassau, Bahamas and Great Stirrup Cay, Norwegian's private island in the Bahamas, which has recently received $25 million in enhancements, including a new dining facility, marina and expanded beachfront. On Mondays, the ship departs Miami on a four-day Bahamas cruise with stops in Grand Bahama Island, Great Stirrup Cay, Norwegian's private island; and Nassau, Bahamas.

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Glad to hear Norwegian Sky will be sticking around for a while. We’ve sailed her twice and it’s always a great price for a fun, quick cruise. We LOVE the Hawaiian décor and theme left over from her short life as Pride of Aloha; Great Stirrup Cay is always a good port stop; and last time we sailed they had the best martini specials ever – land or sea!

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