Royal Caribbean prices upsized $1.5B senior unsecured notes at 5.625% due 2031 to refinance debt

ROYAL CARIBBEAN CRUISES LTD

Upsized from $1.0B to $1.5B; notes priced at 5.625% for $1.5B principal, maturity Sept 30, 2031.
Proceeds will redeem all $1.5B of 7.250% Senior Notes due 2030 and repay Silver Dawn finance lease.
After redemption, the company will have no remaining guaranteed or secured notes.
Expected closing date: Sept 26, 2024, subject to customary conditions.
Pending use, proceeds may temporarily repay revolving credit borrowings.

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