Royal Caribbean completes $2B 6.000% notes offering to refinance higher-coupon 2029 notes

ROYAL CARIBBEAN CRUISES LTD

Issued $2.0B aggregate principal of 6.000% Senior Notes due 2033; net proceeds ~$1.98B after fees.
Proceeds plus revolver borrowings to redeem all $1.0B of 9.250% Senior Notes due 2029 and $1.0B of 8.250% Secured Notes due 2029.
Redemption expected on Aug 13, 2024; eliminates remaining secured debt.
Interest on new notes at 6.000% payable semi-annually; covenants limit liens, sale-leaseback, and mergers.
Notes offered via private placement under Rule 144A and Regulation S; not registered under Securities Act.

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