U.S. Lindblad prices $275 mln senior notes private offering

Lindblad Expeditions Holdings, a U.S.-based expedition travel company, has priced a $275 million private offering of 9 percent senior secured notes due 2028 at par.

Lindblad will use part of the proceeds from the proposed transaction to prepay in full, all outstanding borrowings under its existing export credit facilities, that were incurred to fund the mortgaged vessels.

Additionally, the company will also utilize another portion of funds to finance the costs of the offering, for working capital and general corporate purposes, which may include strategic growth initiatives.

Furthermore, the notes will be given only to qualified institutional buyers, and subject to customary closing conditions, the offering is expected to close on or about May 2, 2023.