More Fundraising for Royal Caribbean with Note Offering

Anthem of the Seas

Royal Caribbean Cruises announced that it has commenced a private offering of senior guaranteed notes to be issued by the company due 2023 for an aggregate principal amount of up to $1.0 billion and a concurrent private offering of senior convertible notes to be issued by the company due 2023 and, collectively with the Senior Notes for an aggregate principal amount of up to $1.0 billion.

The closing of each offering is not contingent upon the closing of the other offering.

The Senior Notes will be fully and unconditionally guaranteed on a senior unsecured basis by a newly formed, direct wholly owned subsidiary of the company that will own all the equity interests in the company's subsidiaries that own seven of the company's vessels. The Convertible Notes will not be guaranteed by any of the company's subsidiaries.

The Convertible Notes will be convertible at the holder's option in certain circumstances. Upon conversion, the company may satisfy its conversion obligation by paying or delivering, at its election, as applicable, cash, shares of its common stock or a combination of cash and shares of its common stock.

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