Shearman & Sterling advised Silversea Cruise Holding Ltd. (“Silversea Cruises”) on the offering of $70 million aggregate principal amount of 7.250% senior secured notes due 2025 by its wholly owned subsidiary Silversea Cruise Finance Ltd. The offering, which was conducted pursuant to Rule 144A and Regulation S under the U.S. Securities Act, closed on April 16, 2018. The proceeds of the offering will be used to fund future capital expenditure on its current fleet and for general corporate purposes.
Silversea Cruises is a market leader in the classic and expedition luxury cruise industry. Silversea Cruises began the Ultra Luxury cruise line in 1994 and is a pioneer in Luxury Expedition cruising.
The Shearman & Sterling team below was supported by Warren Stapley (London-Finance) and Daniel Kachmar (New York-Tax).