MIAMI, Sept. 26,
2024 /PRNewswire/ -- Royal Caribbean Cruises Ltd.
(NYSE: RCL) (the "Company") today announced that it has completed
its private offering of $1.5 billion
aggregate principal amount of 5.625% Senior Notes due 2031 (the
"Notes"). The Notes will mature on September
30, 2031, unless earlier redeemed or repurchased.
The Company intends to use the proceeds from the sale of the
Notes to redeem and/or repay certain of its indebtedness,
including, but not limited to, (i) to redeem all of the outstanding
$700 million aggregate principal
amount of its 7.250% Senior Notes due 2030, after which the Company
will have no remaining guaranteed or secured notes outstanding; and
(ii) to repay in full all of the outstanding $232 million aggregate principal amount of its
Silver Dawn finance lease (including to pay fees and
expenses in connection with each of the foregoing), on September 27, 2024 and November 25, 2024, respectively. Pending
application in full of the proceeds, the Company may apply some of
the proceeds to temporarily repay borrowings under its revolving
credit facilities.
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. persons in reliance on Regulation S. The Notes
have not been 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. This press release shall not constitute a notice of
redemption with respect to the Company's 7.250% Senior Notes due
2030.
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 Company's 7.250% Senior Notes due 2030. Words such as
"anticipate," "believe," "considering," "could," "driving,"
"estimate," "expect," "goal," "intend," "may," "plan," "project,"
"seek," "should," "will," "would" and similar expressions are
intended to help identify forward-looking statements.
Forward-looking statements reflect management's current
expectations, but they are based on judgments and are inherently
uncertain. Furthermore, they are subject to risks, uncertainties
and other factors that 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 the economic and geopolitical environment on key
aspects of the Company's business, such as the demand for cruises,
passenger spending, and operating costs; changes in operating and
financing costs; the unavailability or cost of air service; adverse
events such as terrorist attacks, war and other similar events;
disease outbreaks and 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 could reduce demand; incidents or
adverse publicity concerning the Company's ships, port facilities,
land destinations and/or passengers or the cruise vacation industry
in general; 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; vacation
industry competition and changes in industry capacity and
overcapacity; unavailability of ports of call; an inability to
source the Company's crew or the Company's provisions and supplies
from certain places; the uncertainties of conducting business
internationally and expanding into new markets and new ventures;
the Company's ability to obtain sufficient financing, capital or
revenues to satisfy liquidity needs, capital expenditures, debt
repayments and other financing needs; the Company's indebtedness,
any additional indebtedness the Company may incur and restrictions
in the agreements governing the Company's indebtedness that limit
the Company's flexibility in operating its business; changes in
foreign travel policy of the United
States or other countries; growing anti-tourism sentiments
and environmental concerns; concerns over safety, health and
security of guests and crew; the impact of new or changing
legislation and regulations (including environmental regulations)
or governmental orders on the Company's business; uncertainties of
a foreign legal system as the Company is not incorporated in
the United States; the impact of
foreign currency exchange rates, the impact of higher interest rate
and food and fuel prices; further impairments of the Company's
goodwill, long-lived assets, equity investments and notes
receivable; the Company's ability to recruit, develop and retain
high quality personnel; the risks and costs related to cyber
security attacks, data breaches, protecting the Company's systems
and maintaining integrity and security of the Company's business
information, as well as personal data of its guests, employees and
others; and pending or threatened litigation, investigations and
enforcement actions.
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 a vacation industry leader
with a global fleet of 68 ships across its five brands traveling to
approximately 1,000 destinations. With a mission to deliver the
best vacations responsibly, Royal Caribbean Group serves millions
of guests each year through its portfolio of best-in-class brands,
including Royal Caribbean International, Celebrity Cruises, and
Silversea; and expanding portfolio of land-based vacation
experiences through Perfect Day at CocoCay and Royal Beach Club
collection. The company also owns 50% of a joint venture that
operates TUI Cruises and Hapag-Lloyd Cruises.
Investor Relations contact: Blake
Vanier
Email: bvanier@rccl.com
Media contact: Melissa
Castro
Email:
corporatecommunications@rccl.com
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SOURCE Royal Caribbean Group
