Reported Earlier, Royal Caribbean Prices Upsized Offering Of $1.5B 5.625% Senior Unsecured Notes Due 2031 To Refinance Existing Indebtedness
Portfolio Pulse from Benzinga Newsdesk
Royal Caribbean has priced an upsized offering of $1.5 billion in 5.625% senior unsecured notes due 2031. The proceeds will be used to refinance existing debt, including redeeming 7.250% senior notes due 2030 and repaying obligations under the Silver Dawn finance lease.
September 17, 2024 | 7:18 am
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Royal Caribbean is issuing $1.5 billion in senior unsecured notes to refinance existing debt, including redeeming 7.250% notes due 2030 and repaying the Silver Dawn finance lease.
The issuance of new notes at a lower interest rate to refinance existing higher-interest debt is a positive financial strategy. It reduces interest expenses and improves the company's debt profile, which is likely to be viewed favorably by investors.
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