MIAMI, Sept. 16,
2024 /PRNewswire/ -- Royal Caribbean Cruises
Ltd. (NYSE: RCL) (the "Company") today announced that it has
commenced a private offering of $1.0
billion aggregate principal amount of senior unsecured notes
due 2031 (the "Notes").
The Company intends to use the proceeds from the sale of the
Notes to redeem and/or repay certain of its indebtedness,
including, but not limited to, (i) to redeem all of its outstanding
7.250% Senior Notes due 2030, after which the Company will have no
remaining guaranteed indebtedness; and (ii) to repay in full all
outstanding obligations under its Silver Dawn finance lease
(including to pay fees and expenses in connection with each of the
foregoing). Pending such uses, the Company may apply some of the
proceeds to temporarily repay borrowings under its revolving credit
facilities.
The Notes are being offered only to persons reasonably believed
to be qualified institutional buyers in reliance on Rule 144A under
the Securities Act of 1933, as amended (the "Securities Act"), and
outside the United States only to
certain non-U.S. persons in reliance on to Regulation S. The Notes
will not be registered under the Securities Act or any state
securities laws and may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of the
Securities Act and applicable state laws.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy the Notes or any other securities
and shall not constitute an offer, solicitation or sale in any
jurisdiction in which such offer, solicitation or sale would be
unlawful. This press release shall not constitute a notice of
redemption with respect to the Company's 7.250% Senior Notes due
2030. This press release is being issued pursuant to and in
accordance with Rule 135c under the Securities Act.
Special Note Regarding Forward-Looking Statements
Certain statements in this press release relating to, among
other things, the offering and sale of the Notes constitute
forward-looking statements under the Private Securities Litigation
Reform Act of 1995. These statements include, but are not limited,
to: statements regarding terms of the offering of the Notes and the
intended use of proceeds. Words such as "anticipate," "believe,"
"considering," "could," "driving," "estimate," "expect," "goal,"
"intend," "may," "plan," "project," "seek," "should," "will,"
"would" and similar expressions are intended to help identify
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 that could cause the
Company's 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 and
geopolitical environment on key aspects of the Company's business,
such as the demand for cruises, passenger spending, and operating
costs; changes in operating and financing costs; the unavailability
or cost of air service; adverse events such as terrorist attacks,
war and other similar events; disease outbreaks and an increase in
concern about the risk of illness on the Company's ships or when
traveling to or from the Company's ships, all of which could reduce
demand; incidents or adverse publicity concerning the Company's
ships, port facilities, land destinations and/or passengers or the
cruise vacation industry in general; the effects of weather,
natural disasters and seasonality on the Company's business; the
impact of issues at shipyards, including ship delivery delays, ship
cancellations or ship construction cost increases; shipyard
unavailability; vacation industry competition and changes in
industry capacity and overcapacity; unavailability of ports of
call; an inability to source the Company's crew or the Company's
provisions and supplies from certain places; the uncertainties of
conducting business internationally and expanding into new markets
and new ventures; the Company's ability to obtain sufficient
financing, capital or revenues to satisfy liquidity needs, capital
expenditures, debt repayments and other financing needs; the
Company's indebtedness, any additional indebtedness the Company may
incur and restrictions in the agreements governing the Company's
indebtedness that limit the Company's flexibility in operating its
business; changes in foreign travel policy of the United States or other countries; growing
anti-tourism sentiments and environmental concerns; concerns over
safety, health and security of guests and crew; the impact of new
or changing legislation and regulations (including environmental
regulations) or governmental orders on the Company's business;
uncertainties of a foreign legal system as the Company is not
incorporated in the United States;
the impact of foreign currency exchange rates, the impact of higher
interest rate and food and fuel prices; further impairments of the
Company's goodwill, long-lived assets, equity investments and notes
receivable; the Company's ability to recruit, develop and retain
high quality personnel; the risks and costs related to cyber
security attacks, data breaches, protecting the Company's systems
and maintaining integrity and security of the Company's business
information, as well as personal data of its guests, employees and
others; and pending or threatened litigation, investigations and
enforcement actions.
Forward-looking statements should not be relied upon as
predictions of actual results. Undue reliance should not be placed
on the forward-looking statements in this release, which are based
on information available to the Company on the date hereof. The
Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
About Royal Caribbean Group
Royal Caribbean Group (NYSE: RCL) is a vacation industry leader
with a global fleet of 68 ships across its five brands traveling to
approximately 1,000 destinations. With a mission to deliver the
best vacations responsibly, Royal Caribbean Group serves millions
of guests each year through its portfolio of best-in-class brands,
including Royal Caribbean International, Celebrity Cruises, and
Silversea; and expanding portfolio of land-based vacation
experiences through Perfect Day at CocoCay and Royal Beach Club
collection. The company also owns 50% of a joint venture that
operates TUI Cruises and Hapag-Lloyd Cruises.
Investor Relations contact: Blake Vanier
Email: bvanier@rccl.com
Media contact: Melissa Castro
Email: corporatecommunications@rccl.com
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SOURCE Royal Caribbean Group