Royal Caribbean Cruise Line has concluded a $126 million bond issue. Net proceeds will be used to reduce the cruise line's outstanding debt. RCCL has offered a yield of 113/8 percent on the notes, maturing in 2002. RCCL has also reported first quarter results showing net income of $4.4 million on revenues of $215 million. Last year, RCCL lost $1 million on revenues of $175 million in the first quarter.