Royal Caribbean Receives Court Approval To Acquire Cruise Ship Endeavor

Royal Caribbean Cruises Ltd RCL said it had received court approval to acquire the cruise ship Endeavor.
Originally delivered to Crystal Cruises in 2021, the ship will be renamed Silver Endeavour when it officially joins the RCL's subsidiary, Silversea Cruises' fleet.
The purchase price for the vessel was $275 million. The vessel was fully financed through a 15-year unsecured term loan, guaranteed by the German export credit agency, Euler Hermes.
RCL expects the acquisition to be immediately accretive to earnings, cash flow, and ROIC.
Silver Endeavour is scheduled to begin service in winter 2022/2023, spending its inaugural season in Antarctica starting November 2022.
Royal Caribbean held $1.96 billion in cash and equivalents as of March 31, 2022.
Price Action: RCL shares are trading higher by 7.84% at $35.33 on the last check Monday.
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