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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.

Anne Kalosh, Editor, Seatrade Cruise News & Senior Associate Editor, Seatrade Cruise Review

September 26, 2024

1 Min Read
LOGO: ROYAL CARIBBEAN GROUP

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.

About the Author

Anne Kalosh

Editor, Seatrade Cruise News & Senior Associate Editor, Seatrade Cruise Review

Anne Kalosh covers global stories, reporting both breaking and in-depth news on cruising's significant people, places, ships and trends. A sought-after expert on cruising, she has moderated conferences around the world, including the high-profile State of the Industry panel at Seatrade Cruise Global. She created and led the acclaimed itinerary-planning case study for Seatrade's cruise master classes held at Cambridge and Oxford universities. She has been the cruise columnist for AFAR.com, and her freelance stories have appeared in a wide range of publications, from The New York Times to The Miami Herald.

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