Royal Caribbean Group closed its private offering of $1.25b of 11.625% senior unsecured notes due 2027.
The offering was upsized from $1b.
Use of proceeds
The company intends to use the proceeds to repay principal on debt maturing in 2022 /or 2023. Pending such uses, Royal Caribbean may temporarily apply the proceeds to repay borrowings under its revolving credit facilities or other borrowings.
The notes were offered only to qualified institutional investors outside the US.
