Royal Caribbean Group commenced a private offering of $1b in senior unsecured notes due 2027.
The company intends to use the proceeds to repay principal payments 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 are being offered only to qualified institutional investors outside the US.
Closely follows convertible senior notes offering
This follows the Aug. 8closing of an upsized offering of $1.15b in 6% convertible senior notes due 2025 whose proceeds were used to buy back certain convertible notes due in 2023.
