Royal Caribbean Prices USD 800 Mn Notes

Miami-based cruise line Royal Caribbean Cruises (RCL) has priced an offering of senior unsecured notes in an aggregate principal amount of USD 800 million, consisting of two tranches.

The first tranche of USD 300 million aggregate principal amount of senior unsecured notes due 2020 will bear interest at the rate of 2.650% per annum and will mature on November 28, 2020.

The second tranche of USD 500 million aggregate principal amount of senior unsecured notes due 2028 will bear interest at the rate of 3.700% per annum and will mature on March 15, 2028.

The notes are expected to be issued on November 28, 2017.

The company plans to use the proceeds from the offering to repay indebtedness, including but not limited to, its USD 290 million unsecured term loan due 2018 and portions of its unsecured revolving credit facility due 2020 and unsecured revolving credit facility due 2022.

RCL added that any remaining proceeds would be used for general corporate purposes.

 

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