---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-025625"
form_type: "8-K"
ticker: "RCL"
cik: "0000884887"
company_name: "ROYAL CARIBBEAN CRUISES LTD"
filed_at: "2025-03-19T23:59:59+00:00"
generated_at: "2026-05-24T12:41:53.905170+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Royal Caribbean completes exchange of $213M convertible notes for 3.3M shares and $214M cash

## Summary
- Holders exchanged ~$213M of 6.000% Convertible Senior Notes due 2025 for 3.3M shares and ~$214M cash (par + accrued interest).
- Cash portion funded from liquidity on-hand; exchanged notes were cancelled immediately.
- Remaining ~$110M in aggregate principal amount of the 2025 Notes still outstanding.
- Fully diluted shares outstanding reduced by approximately 1.0 million shares as a result of the exchange.
- Advisors: Perella Weinberg, J. Wood Capital, and Goldman Sachs.

## SEC filing metadata
- accession: 0001104659-25-025625
- form_type: 8-K
- ticker: RCL
- cik: 0000884887
- company_name: ROYAL CARIBBEAN CRUISES LTD
- filed_at: 2025-03-19T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/884887/000110465925025625/0001104659-25-025625-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/884887/000110465925025625/tm259549d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-025625
- JSON: https://secwatch.observer/filing/0001104659-25-025625.json
- Plain text: https://secwatch.observer/filing/0001104659-25-025625.txt

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