---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-091301"
form_type: "8-K"
ticker: "RCL"
cik: "0000884887"
company_name: "ROYAL CARIBBEAN CRUISES LTD"
filed_at: "2024-08-20T23:59:59+00:00"
generated_at: "2026-05-31T08:36:50.059825+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Royal Caribbean completes $827M note exchange; issues 11.4M shares, cuts diluted shares

## Summary
- Exchanged $827M of 6.000% convertible notes due 2025 for ~11.4M shares and $827M cash funded by revolving credit.
- Net reduction of 5.1M fully diluted shares; $323M of notes remain outstanding after cancellation.
- CFO Holtz says transaction strengthens balance sheet and addresses 2025 debt maturity with no material impact to 2024 adjusted EPS.
- Unregistered shares issued under Section 4(a)(2) exemption to institutional accredited investors.

## SEC filing metadata
- accession: 0001104659-24-091301
- form_type: 8-K
- ticker: RCL
- cik: 0000884887
- company_name: ROYAL CARIBBEAN CRUISES LTD
- filed_at: 2024-08-20T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/884887/000110465924091301/0001104659-24-091301-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/884887/000110465924091301/tm2421847d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-091301
- JSON: https://secwatch.observer/filing/0001104659-24-091301.json
- Plain text: https://secwatch.observer/filing/0001104659-24-091301.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.