Royal Caribbean Group (NYSE: RCL) disclosed the pricing of $650 million aggregate principal amount of 4.250% senior unsecured notes due 2026. The maturity date of the Royal Caribbean is July 1, 2026. The Notes are anticipated to be granted on or around June 24, 2021. It is dependent on usual closing conditions.
The firm is planning to use the profit from the sale of the Notes to finance the redemption in full of nearly $619.8 million aggregate principal amount of the 7.25% senior secured notes due 2025 issued by Silversea Cruise Finance Ltd. It is also planning to use the remaining for general business purposes.
Shares of Royal Caribbean plunged 1.16% as it lost -1.02 during the trading session of Tuesday. It has recorded the price of $86.93 per share on Tuesday. In the past 52-week of the trading session, the share of the firm oscillated between the 52-week low range of $45.06 and $99.24 from its 52-week high range, respectively. Royal Caribbean has a total market capitalization of $22.26 billion at the time of writing.
In addition to this, it has been disclosed that the Notes are being presented only to persons who are qualified institutional buyers according to Rule 144A under the Securities Act of 1933, as amended and outside the US, only to certain non-U.S. investors following Regulation S.