Royal Caribbean Cruises To Raise $1B Through Notes Offering

by Shivani Kumaresan, Benzinga Staff Writer

August 11, 2021 10:51 AM | 1 min read |

Royal Caribbean Cruises Ltd RCL has commenced a private offering of $1 billion of senior unsecured notes due 2026.
The proceeds will be used for general corporate purposes, including the replenishment of capital due to the up to 40% redemption of its 11.500% Senior Secured Notes Due 2025 and for refinancing future debt.
The company recently reported a wider-than-expected loss in Q2 and expected to incur a net loss in Q3.
Royal Caribbean held $4.25 billion in cash and equivalents as of June 30, 2021.
Price Action: RCL shares traded lower by 0.71% at $80.18 on the last check Wednesday.

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