NEW YORK, March 28, 2018 /PRNewswire/ -- Lindblad
Expeditions Holdings, Inc. (NASDAQ: LIND; "Lindblad"; the
"Company"), a global provider of expedition cruises and adventure
travel experiences, today announced the completion of a refinancing
of its existing senior secured term loan and revolving credit
facility. The new $200 million,
seven-year, senior secured term loan facility will bear interest at
LIBOR plus 3.50%, with a potential step down to LIBOR plus 3.25%
depending on the Company's credit rating. The new
$45 million, five-year, revolving
credit facility will bear interest at LIBOR plus 3.00%. The
pricing of the new term loan and revolving credit facility reflects
a one percentage point rate reduction compared to the prior
$175 million term loan facility and
$45 million revolving credit
facility. Additionally, the covenants in the new facility
were modified to provide the Company with additional strategic and
operational flexibility.
The proceeds from the new term loan were utilized to pay down
the Company's existing term loan with the remaining additional
proceeds to be used for general corporate purposes.
Credit Suisse, JPMorgan Chase Bank, N.A. and Citibank, N.A.
acted as joint book-runners, joint lead arrangers and syndication
agents for this transaction.
About Lindblad Expeditions Holdings, Inc.
Lindblad Expeditions Holdings, Inc. is an expedition travel company
that works in partnership with National Geographic to inspire
people to explore and care about the planet. The organizations work
in tandem to produce innovative marine expedition programs and to
promote conservation and sustainable tourism around the world. The
partnership's educationally oriented voyages allow guests to
interact with and learn from leading scientists, naturalists and
researchers while discovering stunning natural environments, above
and below the sea, through state-of-the-art exploration tools. For
more information visit us at www.expeditions.com.
Forward Looking Statements
Certain matters discussed
in this press release are "forward-looking statements" intended to
qualify for the safe harbor from liability established by the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are subject to certain risks and
uncertainties that could cause results to differ materially from
those expected, including, but not limited to, those risks
described in the Company's filings with the SEC. Stockholders,
potential investors and other readers are urged to consider these
factors carefully in evaluating the forward-looking statements and
are cautioned not to place undue reliance on such forward-looking
statements. The forward-looking statements made herein are made
only as of the date of this press release and the Company
undertakes no obligation to publicly update any forward-looking
statements.
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SOURCE Lindblad Expeditions Holdings, Inc.