| Schedule of convertible debt instruments |
The following is a summary of NCLC’s exchangeable notes as of September 30, 2023 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unamortized |
|
|
|
|
|
|
|
|
|
|
Principal |
|
Deferred |
|
Net Carrying |
|
Fair Value |
|
|
Amount |
|
Financing Fees |
|
Amount |
|
Amount |
|
Leveling |
2024 Exchangeable Notes (1) |
|
$ |
146,601 |
|
$ |
(947) |
|
$ |
145,654 |
|
$ |
188,010 |
|
Level 2 |
2025 Exchangeable Notes |
|
|
449,990 |
|
|
(4,618) |
|
|
445,372 |
|
|
514,978 |
|
Level 2 |
2027 1.125% Exchangeable Notes |
|
|
1,150,000 |
|
|
(19,351) |
|
|
1,130,649 |
|
|
962,136 |
|
Level 2 |
2027 2.5% Exchangeable Notes |
|
|
473,175 |
|
|
(8,459) |
|
|
464,716 |
|
|
411,662 |
|
Level 2 |
| (1) |
Classified within current portion of long-term debt as of September 30, 2023. We expect that the holders of the 2024 Exchangeable Notes will exchange their 2024 Exchangeable Notes for shares. |
The following is a summary of NCLC’s exchangeable notes as of December 31, 2022 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unamortized |
|
|
|
|
|
|
|
|
|
|
Principal |
|
Deferred |
|
Net Carrying |
|
Fair Value |
|
|
Amount |
|
Financing Fees |
|
Amount |
|
Amount |
|
Leveling |
2024 Exchangeable Notes |
|
$ |
146,601 |
|
$ |
(1,993) |
|
$ |
144,608 |
|
$ |
161,840 |
|
Level 2 |
2025 Exchangeable Notes |
|
|
450,000 |
|
|
(6,312) |
|
|
443,688 |
|
|
433,580 |
|
Level 2 |
2027 1.125% Exchangeable Notes |
|
|
1,150,000 |
|
|
(23,457) |
|
|
1,126,543 |
|
|
763,830 |
|
Level 2 |
2027 2.5% Exchangeable Notes |
|
|
473,175 |
|
|
(10,184) |
|
|
462,991 |
|
|
331,743 |
|
Level 2 |
|
| Schedule of interest expense of convertible debt instruments |
The following provides a summary of the interest expense of NCLC’s exchangeable notes (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Nine Months Ended |
|
|
September 30, |
|
September 30, |
|
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Coupon interest |
|
$ |
14,438 |
|
$ |
14,405 |
|
$ |
43,313 |
|
$ |
41,321 |
Amortization of deferred financing fees |
|
|
3,072 |
|
|
3,005 |
|
|
8,571 |
|
|
8,145 |
Total |
|
$ |
17,510 |
|
$ |
17,410 |
|
$ |
51,884 |
|
$ |
49,466 |
|
| Schedule of principal repayments on long-term debt including finance lease obligations |
The following are scheduled principal repayments on our long-term debt including exchangeable notes, which can be settled in shares, and finance lease obligations as of September 30, 2023 (in thousands):
|
|
|
|
Year |
|
Amount |
Remainder of 2023 |
|
$ |
347,240 |
2024 |
|
|
1,782,094 |
2025 |
|
|
1,974,029 |
2026 |
|
|
2,185,156 |
2027 |
|
|
3,237,816 |
2028 |
|
|
1,894,305 |
Thereafter |
|
|
2,792,745 |
Total |
|
$ |
14,213,385 |
|