Viking Holdings Ltd reports that its wholly owned subsidiary, Viking Cruises Ltd, has priced a private offering of $1.7 billion in 5.875% Senior Notes due 2033. The offering is expected to close on October 7, 2025, subject to customary conditions.
Viking Cruises Ltd plans to use the net proceeds from these Notes, together with cash on hand, to redeem all of its outstanding 5.875% Senior Notes due 2027 and to refinance finance leases tied to three ocean ships (Viking Orion, Viking Mars, Viking Jupiter) and one expedition ship (Viking Octantis). The planned redemption of the 2027 notes will only occur if the new Notes offering successfully closes.
Viking Holdings (VIK) reports higher operating capacity and stronger advance bookings for upcoming seasons. For 2025 versus 2024, operating capacity is reported between 6% and 18% higher across disclosures, with Capacity PCD sell-through ranging from 96% to 97% and Advance Bookings of $2,507m to $2,719m, increases of 30% and 16% versus the same prior-season points. Advance Bookings per PCD for 2025 rose to between $718 and $820 from prior-year levels.
For 2026 versus 2025, operating capacity is 9% higher with Capacity PCD sold at 54% to 72% and Advance Bookings of $1,886m to $2,230m, increases of 8% and 21%; Advance Bookings per PCD rose to between $782 and $929.
Viking Holdings Ltd (VIK) filed a Form 144 reporting a proposed sale of 6,200,000 ordinary shares (par value $0.01) through BofA Securities, Inc. on the NYSE, with an aggregate market value of $367,164,000 and the approximate date of sale listed as 08/20/2025. The filer states these shares were originally acquired on 05/03/2024 when preference shares automatically converted into ordinary shares, and the filing notes 92,133,600 shares were received in that conversion. No securities were reported sold by the filer in the past three months, and the filer certifies they are not aware of undisclosed material adverse information.
Viking Holdings Ltd. disclosed details of its financing, fleet and booking trends for mid-2025. The Group operates 84 river vessels including 58 Longships and holds multiple euro- and dollar-denominated loans under the Hermes and SACE Financings, with terms ranging from 2025 to 2037 and mixed fixed and variable rates. As of June 30, 2025, the company reported currency translation losses of $48.7 million for the quarter and $72.2 million for the six months related to euro-denominated loan translations. The Group stated it was in compliance with Hermes covenants at June 30, 2025. The SACE program covers loans for 12 ocean ships and includes €316.6 million Neptune and Saturn loans; related translation movements affected loan balances and earnings. Capital activity from the IPO netted $243.9 million and conversion of preference instruments materially increased share premium. Reservation metrics show materially higher demand: Advance Bookings ranged from $1,584m to $2,725m across seasons with Advance Bookings per Capacity PCD rising versus prior periods.
Canada Pension Plan Investment Board reported beneficial ownership of 31,344,744 ordinary shares of Viking Holdings Ltd, representing 9.9% of the outstanding class based on 315,371,680 shares. The filing is an Amendment to a Schedule 13G covering the event date 06/30/2025 and shows the reporting person holds sole voting and sole dispositive power over all 31,344,744 shares. The issuer named is Viking Holdings Ltd with principal offices at 94 Pitts Bay Road, Pembroke. The Schedule 13G/A identifies the reporting person as a Canadian entity organized at the federal level and classifies the filer as type FI. The filing includes a referenced Power of Attorney as Exhibit 99.1 and is signed by Kathryn Daniels, Managing Director, Head of Compliance, dated 08/13/2025.
Amendment to a Schedule 13G filing reports that TPG GP A, LLC and principals James G. Coulter and Jon Winkelried do not beneficially own any ordinary shares of Viking Holdings Ltd. The filing explains TPG GP A's control chain through multiple TPG entities to TPG VII Valhalla, which directly held Ordinary Shares, and notes that TPG GP A and the two individuals may have been deemed to beneficially own those shares by virtue of that relationship, although each reporting person disclaims beneficial ownership except for any pecuniary interest. The cover-page items report 0.00 shares and 0.00% of the class for each reporting person, and the document is filed jointly under an Agreement of Joint Filing referenced as an exhibit.
Capital Research Global Investors (CRGI) has filed Amendment No. 1 to Schedule 13G disclosing a 10.2% stake in Viking Holdings Ltd. (NYSE: VIK). As of 30 June 2025, CRGI reports beneficial ownership of 32,238,381 common shares out of an estimated 315.4 million shares outstanding.
- Sole voting power: 32,210,048 shares
- Sole dispositive power: 32,238,381 shares
- Shared voting/dispositive power: 0 shares
The filing is made under Rule 13d-1(b) — CRGI qualifies as an investment adviser (IA). The certification confirms the shares were acquired in the ordinary course of business and not for the purpose of influencing control.
Holding more than 10% positions CRGI as Viking’s largest or one of its largest institutional investors, potentially increasing market attention on both the issuer and the fund’s future trading activity.
Viking Holdings Form 144 filing discloses proposed sale of securities by Officer Jeffrey Dash. The filing indicates planned sale of 25,000 ordinary shares with an aggregate market value of $1,281,750 through Morgan Stanley Smith Barney LLC on the NYSE, scheduled for June 26, 2025.
The shares were originally acquired as Restricted Stock Units from the issuer on April 30, 2024. The filing reveals significant recent trading activity by Dash under a 10b5-1 plan adopted on March 13, 2025:
- June 24, 2025: Sold 25,000 shares for $1,273,777.50
- June 16, 2025: Sold 25,000 shares for $1,201,365.00
- June 12, 2025: Sold 75,000 shares for $3,547,077.50
Total outstanding shares: 314,950,576. The seller affirms no knowledge of undisclosed material adverse information regarding Viking Holdings' operations.