Royal Caribbean Cruises (NYSE:RCL) has priced its concurrent private offerings of $1B of 9.250% Senior Guaranteed Notes due 2029 and $1B of 8.250% Senior Secured Notes due 2029.
The senior guaranteed notes, guaranteed on a senior unsecured basis by RCI Holdings, will mature on Jan 15, 2029.
The senior secured notes will be guaranteed by Celebrity Cruises, Celebrity Cruises Holdings Inc. and certain of the company's wholly-owned vessel owning subsidiaries. They will mature on Jan 15, 2029.
The notes are expected to be issued around Oct 6, 2022.
Proceeds from the sale of the notes, together with cash on hand, will be used to redeem all outstanding 9.125% Priority Guaranteed Notes due 2023 and 10.875% Senior Secured Notes due 2023.