Royal Caribbean completes $1.5b unsecured notes offering
Royal Caribbean Group completed its private offering of $1.5b 5.625% senior unsecured notes due 2031.
September 26, 2024
The company intends to use the proceeds to redeem and/or repay certain debts including redeeming all of its outstanding 7.25% senior notes due 2030, after which Royal Caribbean will have no remaining guaranteed or secured notes outstanding.
Also, it plans to repay in full all the outstanding $232m outstanding on its Silver Dawn finance lease.
These actions are scheduled for Sept. 27 and Nov. 25, respectively.
Pending such uses, Royal Caribbean Group may apply some proceeds to temporarily repay borrowings under its revolving credit facilities.
The notes were offered only to qualified institutional buyers outside the US.
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