debt
confidence high
sentiment positive
materiality 0.75
Royal Caribbean proposes $1.0B senior notes due 2032 to refinance 11.625% notes due 2027
ROYAL CARIBBEAN CRUISES LTD
- Offering $1.0 billion aggregate principal amount of senior unsecured notes due 2032 in a private placement.
- Proceeds, with cash on hand and/or revolver borrowings, will redeem all outstanding 11.625% Senior Notes due 2027.
- Notes offered to qualified institutional buyers under Rule 144A and non-U.S. investors under Regulation S.
- Notes will not be registered under the Securities Act; offer is not a redemption notice.
- Refinancing is expected to reduce interest expense and extend debt maturity profile.