Royal Caribbean Group Announces Completion Of Private Exchanges With Certain Holders Of Its 6.000% Convertible Senior Notes Due 2025

Author: Benzinga Newsdesk | August 20, 2024 04:40pm

Royal Caribbean Cruises Ltd. (NYSE:RCL) (the "Company") today announced the completion of its previously announced privately negotiated exchange transactions (the "Exchange Transactions") with a limited number of holders (the "Holders") of its 6.000% Convertible Senior Notes due 2025 (the "2025 Notes"). In the Exchange Transactions, the Holders exchanged approximately $827 million in aggregate principal amount of the 2025 Notes for an aggregate of approximately 11.4 million shares (the "Shares") of the Company's common stock and approximately $827 million in cash, representing the par value of the 2025 Notes exchanged, plus accrued and unpaid interest thereon (together with the Shares, the "Exchange Consideration"). The Company funded the cash portion of the Exchange Consideration with borrowings under its revolving credit facilities.

Posted In: RCL