Royal Caribbean Upsizes Fundraising, $1.25 Billion at 11.625 Percent

Wonder of the Seas

Royal Caribbean Group today announced that it has priced its private offering of $1,250,000,000 aggregate principal amount (up from the previously announced $1 billion) of 11.625% senior unsecured notes due 2027 (the "Notes").

The Notes will mature on August 15, 2027. The Notes are expected to be issued on or around August 18, 2022, subject to customary closing conditions.

According to a press release, the Company intends to use the proceeds from the sale of the Notes to repay principal payments on debt maturing in 2022 and/or 2023 (including to pay fees and expenses in connection with such repayments). Pending such uses, the Company may temporarily apply the proceeds to repay borrowings under its revolving credit facilities or other borrowings..

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