Royal Caribbean Increases Note Offering to $2 Billion

Royal Caribbean Cruises announced that it has priced its private offering of $2.0 billion aggregate principal amount of 6.000% senior unsecured notes due 2033.

The aggregate principal amount of Notes to be issued was increased from the previously announced offering size of $1.5 billion.

The Notes will mature on February 1, 2033. The Notes are expected to be issued on or around August 12, 2024, subject to customary closing conditions, the company said in a statement.

The Company intends to use the proceeds from the sale of the Notes, together with borrowings under the Company’s revolving credit facilities, to redeem (i) all of its outstanding 9.250% Senior Notes due 2029 and (ii) all of its outstanding 8.250% Senior Secured Notes due 2029, which comprise its remaining secured indebtedness (including, in each case, to pay fees and expenses in connection with such redemption).