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Royal Caribbean Group closes $700m notes offering

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Royal Caribbean Group closed its private offering of $700m 7.25% senior notes due 2030.

The company intends to use the proceeds to repay principal payments on debt maturing in 2023 and/or 2024.

They notes will be guaranteed on a senior unsecured basis by a subsidiary that owns 100% of the equity in certain ships.

The notes were offered only to qualified institutional investors outside the US.