MIAMI, March 7,
2024 /PRNewswire/ -- Royal Caribbean Cruises
Ltd. (NYSE: RCL) (the "Company") today announced that it has
completed its private offering of $1.25
billion aggregate principal amount of 6.250% Senior Notes
due 2032 (the "Notes"). The Notes will mature on March 15, 2032, unless earlier redeemed or
repurchased.
The Company intends to use the proceeds from the sale of the
Notes, together with cash on hand and/or borrowings under its
revolving credit facilities, to redeem all of the outstanding
11.625% Senior Notes due 2027 (including to pay fees and expenses
in connection with such redemption) on March
8, 2024.
The Notes were 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. investors pursuant 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.
Special Note Regarding Forward-Looking Statements
Certain statements in this press release relating to, among
other things, the use of proceeds from the 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 the intended use of proceeds
from the sale of the Notes and the expected timing of redemption of
the 11.625% Senior Notes due 2027. Words such as "anticipate,"
"believe," "could," "driving," "estimate," "expect," "goal,"
"intend," "may," "plan," "project," "seek," "should," "will,"
"would," "considering," and similar expressions are intended to
help identify forward-looking statements. Forward-looking
statements reflect management's current expectations, are based on
judgments, are inherently uncertain and are subject to risks,
uncertainties and other factors, which 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 contagious illnesses on economic
conditions and the travel industry in general and the financial
position and operating results of the Company in particular, such
as governmental and self-imposed travel restrictions and guest
cancellations; the Company's ability to obtain sufficient
financing, capital or revenues to satisfy liquidity needs, capital
expenditures, debt repayments and other financing needs; 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; incidents or adverse publicity
concerning the Company's ships, port facilities, land destinations
and/or passengers or the cruise vacation industry in general;
concerns over safety, health and security of guests and crew;
further impairments of the Company's goodwill, long-lived assets,
equity investments and notes receivable; an inability to source
crew or provisions and supplies from certain places; 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 reduces
demand; unavailability of ports of call; growing anti-tourism
sentiments and environmental concerns; changes in U.S. foreign
travel policy; the uncertainties of conducting business
internationally and expanding into new markets and new ventures;
the Company's ability to recruit, develop and retain high quality
personnel; changes in operating and financing costs; the Company's
indebtedness, any additional indebtedness the Company may incur and
restrictions in the agreements governing the Company's indebtedness
that limit its flexibility in operating its business; the impact of
foreign currency exchange rates, the impact of higher interest rate
and food and fuel prices; vacation industry competition and
changes in industry capacity and overcapacity; the risks and costs
related to cyber security attacks, data breaches, protecting the
Company's systems and maintaining integrity and security of its
business information, as well as personal data of the Company's
guests, employees and others; the impact of new or changing
legislation and regulations (including environmental regulations)
or governmental orders on the Company's business; pending or
threatened litigation, investigations and enforcement actions; 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; the unavailability or cost of
air service; and uncertainties of a foreign legal system as the
Company is not incorporated in the United
States.
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 one of the leading cruise
companies in the world with a global fleet of 65 ships traveling to
approximately 1,000 destinations around the world. Royal Caribbean
Group is the owner and operator of three award winning cruise
brands: Royal Caribbean International, Celebrity Cruises, and
Silversea Cruises and it is also a 50% owner of a joint venture
that operates TUI Cruises and Hapag-Lloyd Cruises. Together, the
brands have an additional 8 ships on order as of December 31, 2023.
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SOURCE Royal Caribbean Group