Royal Caribbean group plans to refinance 2027 senior Notes

Thursday, February 22, 2024

Royal Caribbean Cruises Ltd. (NYSE: RCL) announced today the commencement of a private offering of $1.0 billion aggregate principal amount of senior unsecured notes due 2032 (referred to as the “Notes”).

The company plans to utilize the proceeds from the Notes offering, in conjunction with existing cash reserves and/or borrowings under its revolving credit facilities, for the redemption of all outstanding 11.625% Senior Notes due 2027, inclusive of associated fees and expenses.

The Notes are exclusively offered to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”), and to certain non-U.S.Investors located outside the United States in accordance with Regulation S. They will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States without proper registration or exemption.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes or any other securities, and it is not intended as in any jurisdiction where such an offer or solicitation would violate the law. Additionally, this release does not serve as a notice of redemption for the 11.625% Senior Notes due 2027.This is issued in compliance with Rule 135c of the Securities Act.
Forward-Looking Statements Disclaimer:

Certain statements in this press release, including those regarding the offering and sale of the Notes and the intended use of proceeds, constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements are inherently uncertain and subject to various risks, uncertainties, and factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. The company does not undertake any obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Investors should not unduly rely on these statements, which reflect the company’s current expectations and are based on information available as of the date of this release.

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