Lindblad Expeditions Holdings Secures $675 Million in Senior Secured Notes Offering

Lindblad Expeditions Strengthens Financial Position with New Notes Offering

Lindblad Expeditions Holdings, Inc. announces a significant financial development as its subsidiary, Lindblad Expeditions, LLC, successfully prices $675 million in senior secured notes, due in 2030. This offering, which features an interest rate of 7.000%, exceeds the initial target by $25 million, reflecting strong investor interest. The closing of this offering is anticipated around August 20, 2025, contingent on standard closing conditions. The newly issued notes will be senior obligations, secured by a first-priority lien on the majority of the issuer's assets, reinforcing the company's financial stability and commitment to its future growth.

The proceeds from this offering are primarily earmarked for a tender offer aimed at outstanding 6.750% Senior Secured Notes due in 2027 and to redeem all 9.000% Senior Secured Notes due in 2028. This strategic move is designed to streamline Lindblad's capital structure by reducing interest expenses and eliminating higher-yielding debt, thereby optimizing its financial health. Additionally, any remaining funds after fulfilling these obligations will be allocated for general corporate purposes, further enhancing the company’s operational flexibility and capacity for future investments.

Lindblad Expeditions distinguishes itself in the competitive landscape of global expedition travel, offering unique and immersive experiences across all seven continents. The company’s commitment to exploration and environmental stewardship not only enhances its brand reputation but also aligns with the growing consumer demand for sustainable travel options. By securing this financing, Lindblad Expeditions positions itself to continue expanding its offerings while maintaining its dedication to responsible tourism practices.

In related news, the New Notes will not be registered under the Securities Act and will only be offered to qualified institutional buyers and individuals outside the United States under specific regulations. This offering is a crucial part of Lindblad’s strategic financial planning and is expected to support its ongoing initiatives and operational growth in the expedition travel sector. The company's focus on leveraging financial opportunities underlines its proactive approach to maintaining industry leadership and ensuring the sustainability of its business model.