Cruise giant Norwegian to raise $2bn to pay down pandemic survival debt

Royal Caribbean, Carnival, and Norwegian had rushed to debt markets in the first year of the pandemic

Norwegian Cruise Line's Norwegian Spirit docking at Cobh, Co Cork.

Norwegian Cruise Line Holdings is offering about $2bn (€1.75bn) of notes to refinance the expensive debt it took out in 2020 to weather the global lockdowns amid the pandemic.

The company will tap the junk-bond market to sell $1bn of secured notes due in 2027 and $600m of unsecured notes due in 2029.