Royal Caribbean announces upsizing and pricing of $1.5B debt offering via issuance of senior notes
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Contributor since / Followers
Contributor since / Followers
3 months ago
- Royal Caribbean (NYSE:RCL) has priced its private offering of $1.5 billion principal amount of 5.625% senior unsecured notes due 2031.
- The offering was increased from the previously announced offering size of $1.0 billion.
- The notes will mature on September 30, 2031.
- The firm expects to use the proceeds to redeem and/or repay its indebtedness. This includes the redemption of all of its outstanding 7.250% senior notes due in 2030, after which the firm will have no remaining guaranteed indebtedness.
- The firm also intends to use the proceeds to repay in full all outstanding obligations under its Silver Dawn finance lease.
- After such uses, the firm may apply some of the proceeds to temporarily repay borrowings under its revolving credit facilities.
- The notes are expected to be issued on or around September 26, 2024.