MIAMI, Nov. 20, 2017 /PRNewswire/ -- Royal Caribbean
Cruises Ltd. (NYSE: RCL) today announced that it has priced an
offering of senior unsecured notes in an aggregate principal amount
of $800 million, consisting of two
tranches. The first tranche of $300
million aggregate principal amount of senior unsecured notes
due 2020 (the "2020 Notes") will bear interest at the rate of
2.650% per annum and will mature on November
28, 2020. The second tranche of $500
million aggregate principal amount of senior unsecured notes
due 2028 (together with the 2020 Notes, the "Senior Unsecured
Notes") will bear interest at the rate of 3.700% per annum and
will mature on March 15, 2028. The Senior Unsecured
Notes are expected to be issued on November
28, 2017.
The company plans to use the proceeds from the offering to repay
indebtedness, including but not limited to, its $290 million unsecured term loan due 2018 and
portions of its unsecured revolving credit facility due 2020 and
unsecured revolving credit facility due 2022, with any remaining
proceeds being used for general corporate purposes.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan
Stanley & Co. LLC, BNP Paribas Securities Corp., Goldman Sachs
& Co. LLC, Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc.,
BBVA Securities Inc., Citigroup Global Markets Inc., HSBC
Securities (USA) Inc., J.P. Morgan
Securities LLC, Scotia Capital (USA) Inc. and SG Americas Securities, LLC
acted as joint book-running managers.
The offering was made pursuant to a shelf registration statement
filed with the Securities and Exchange Commission. A written
prospectus for the offering may be obtained if you request it by
calling Merrill Lynch, Pierce, Fenner & Smith Incorporated,
toll-free at 1-800-294-1322 or Morgan Stanley & Co. LLC at
1-866-718-1649.
Royal Caribbean Cruises Ltd. (NYSE: RCL) is a global cruise
vacation company that owns and operates Royal Caribbean
International, Celebrity Cruises and Azamara Club Cruises. The
company also owns a 50 percent joint venture interest in TUI
Cruises, a 49 percent interest in Pullmantur and a minority
interest in SkySea Cruises. Together, these six brands
operate a combined total of 49 ships. They operate diverse
itineraries around the world that call on approximately 535
destinations on all seven continents.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the Senior Unsecured Notes, nor
shall it constitute an offer, solicitation or sale in any
jurisdiction in which such offer, solicitation or sale is
unlawful.
Certain statements in this release relating to, among other
things, our future performance, constitute forward-looking
statements. Words such as "anticipate," "believe," "could,"
"estimate," "expect," "goal," "intend," "may," "plan," "project,"
"seek," "should," "will," "driving" and similar expressions are
intended to further identify any of these forward-looking
statements. Forward-looking statements reflect management's current
expectations but they are based on judgments and are inherently
uncertain. Furthermore, they are subject to risks, uncertainties
and other factors, which could cause our actual results,
performance or achievements to differ materially from the future
results, performance or achievements expressed or implied in those
forward-looking statements. Examples of these risks,
uncertainties and other factors include, but are not limited to the
following: the impact of the economic environment on the demand for
cruises, the impact of the economic environment on our ability to
generate cash flows from operations or obtain new borrowings from
the credit or capital markets in amounts sufficient to satisfy our
capital expenditures, debt repayments and other financing needs,
the uncertainties of conducting business internationally and
expanding into new markets, changes in operating and financing
costs, vacation industry competition and changes in industry
capacity and overcapacity, emergency ship repairs, including the
related lost revenue, the impact of ship delivery delays, ship
cancellations or ship construction price increases, financial
difficulties encountered by shipyards or their subcontractors and
incidents or adverse publicity concerning the cruise vacation
industry and the unavailability or cost of air service.
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SOURCE Royal Caribbean Cruises Ltd.