Torstein Hagen's Viking Cruises is aiming to raise $950m in two bond offerings.
It is selling $675m of secured notes at interest of 5% over 10 years, as well as an additional "tack-on" tranche worth $275m at 5.875% over nine years.
The expanding cruiseship company said it would use the cash to pre-pay all outstanding amounts under the loan agreements used to finance two Fincantieri-built vessels, the 47,800-gt Viking Star (built 2015) and Viking Sky (built 2017).
But it also wants to buy back another newbuilding, the 47,800-gt Viking Sea (built 2016), and end the leaseback deal on the vessel.
Money from the additional notes will be used for general corporate purposes.
Earlier bonds to be amended
Last week, the owner said it was trying to win approval to amend elements of two notes issues worth $800m in total.
It said it wants to make certain changes to the $250m series due in 2025 at interest of 6.25% and the $550m issue due in 2027 at interest of 5.875%.
The proposed amendments to the 2025 notes would "substantially conform certain covenants, definitions and other terms in the 2025 indenture with those contained in the 2027 indenture."
The amendment to the 2027 indenture would allow Viking, "for purposes of certain calculations, to give cumulative effect to certain changes in accounting principles," it added.
Viking will pay a consent fee of $2.50 and $1.25 respectively for every $1,000 held.
The offer expires on 31 January.
Newbuildings added last year
The owner signed up for two more cruiseships at Fincantieri in Italy in December.
The deal brought the number of 47,800-gt vessels being built or completed at the yard to 10.
Four are already operational, with the final two due for delivery in 2022 and 2023.
The fifth and sixth ships were added in November 2016.
The ships have 465 cabins and can accommodate 930 passengers.
They are designed by Fincantieri and the initial order was priced at EUR 300m ($322m) per vessel.
