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Royal Caribbean completes $200m accelerated share repurchase

Royal Caribbean completes $200m accelerated share repurchase

Royal Caribbean Cruises Ltd. announced that it has completed the $200m accelerated share repurchase program announced on October 23, 2015.  Under the terms of the program, the company repurchased a total of 2,103,288 shares of common stock at a price per share of $95.0892.

The repurchase price was determined based on the average of the daily volume-weighted average prices of the stock during the term of the transaction, less a discount.

The ASR transaction was executed as part of an authorization by the company's Board of Directors to repurchase up to $500m of common stock.  With the completion of the transaction $300m remains under the share repurchase authorization.  The company expects to complete the program by year-end 2016.

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