NEW YORK, September 2, 2025 – Proskauer advised the initial purchasers, the lenders and the dealer manager in connection with certain refinancing transactions by Lindblad Expeditions, LLC (the “Issuer” or “Borrower”), a wholly-owned subsidiary of Lindblad Expeditions Holdings, Inc. (Nasdaq: LIND) (“Lindblad”). The refinancing transactions consisted of an upsized $675.0 million offering of privately placed 7.000% Senior Secured Notes due 2030, a $60.0 million amendment to upsize the Borrower’s existing revolving credit facility and a cash tender offer to purchase any and all $360.0 million of the Issuer’s outstanding 6.750% Senior Secured Notes due 2027. The notes offering was upsized from the previously announced $650.0 million offering amount and closed simultaneously with the revolving credit facility amendment on August 20, 2025.
Citigroup Global Markets Inc. acted as lead book-running manager for the notes offering and dealer manager for the tender offer. JPMorgan Chase Bank, N.A. acted as lead arranger and lead bookrunner for the credit facility amendment.
Lindblad is a leader in global expedition travel, offering immersive, educational journeys that span all seven continents through its six pioneering brands.
The Proskauer team was led by partner JD DeSantis (Capital Markets and Finance); associate Dylan Conn (Capital Markets) and partner Frank Oliver (Finance) and included associates Caleb Chua and Peter Luu (Finance); associates Marina Edwards and Sophia Coutavas (Capital Markets); and partner Martin Hamilton and associate Maggie Livingstone (Tax).