Royal Caribbean Group Announces Completion Of Private Exchanges With Certain Holders Of Its 6.000% Convertible Senior Notes Due 2025
Portfolio Pulse from Benzinga Newsdesk
Royal Caribbean Cruises Ltd. has completed private exchange transactions with holders of its 6.000% Convertible Senior Notes due 2025, exchanging $827 million in notes for 11.4 million shares and $827 million in cash.
August 20, 2024 | 8:40 pm
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Royal Caribbean Cruises Ltd. completed an exchange of $827 million in convertible notes for 11.4 million shares and $827 million in cash, funded by its revolving credit facilities.
The exchange of convertible notes for shares and cash affects RCL's equity structure and credit position. The use of revolving credit facilities to fund the cash portion indicates a strategic financial maneuver, but the immediate impact on stock price is neutral as it balances debt reduction with equity dilution.
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