Shares of Norwegian Cruise Line Holdings (NYSE: NCLH) rose 11% in December, according to data provided by S&P Global Market Intelligence. There wasn’t much in the way of financial news from the company, although Norwegian did raise more money during the month at favorable rates. Additionally, the stock rose on continued optimism over a cruise recovery next year as we get closer to a full vaccine distribution.
In mid-December, Norwegian raised another $850 million in senior debt to help the company’s liquidity as it gets through the end of the pandemic. Encouragingly, Norwegian was able to sell senior debt at just a 5.875% interest rate. That’s far below the 12.25% interest rate at which the company raised money back in May, and may have led to hopes that Norwegian and other cruise companies could be able to refinance their massive debt loads at lower rates, now that we have a vaccine.