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Royal Caribbean Group closes $650m private notes offeringRoyal Caribbean Group closes $650m private notes offering

Royal Caribbean Group closed its private offering of $650m of 4.25% senior unsecured notes due 2026.

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

June 24, 2021

1 Min Read
Credit: Seatrade Cruise News

The notes will be issued under an Indenture dated June 24 between the company and The Bank of New York Mellon Trust Co., NA as trustee, principal paying agent, transfer agent and registrar.

Use of proceeds

Royal Caribbean Group expects to use the net proceeds to fund the redemption in full of approximately $619.8m of its 7.25% senior secured notes due 2025 issued by Silversea Cruise Finance Ltd. (including to pay call premiums, fees and expenses), and the remaining for general corporate purposes.

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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