Royal Caribbean Group today announced that it has commenced a private offering of $1.25 billion aggregate principal amount of senior unsecured notes due 2028 to be issued by the company as it continues its ongoing fundraising.

The company intends to use the proceeds from the sale of the Notes to repay principal payments on debt maturing or required to be paid in 2021 and 2022, and the remaining for general corporate purposes (including to pay fees and expenses in connection with such repayments), according to a press release.