Benzinga | Jan 4, 2022 10:53AM EST

Royal Caribbean To Raise $700M Via Debt Offering

* Royal Caribbean Cruises Ltd (NYSE:RCL) has commenced a private offering of $700 million of senior unsecured notes due 2027 to be issued by the company.

* The company intends to use the proceeds from the sale of the Notes to repay principal payments on debt maturing in 2022.

* Pending such uses, the company may temporarily apply the proceeds to repay borrowings under its revolving credit facilities or other borrowings.

* As of the date of the release of its Q2 results, the company's scheduled debt maturities for 2022 were $2.2 billion.

* Price Action: RCL shares are trading higher by 3.03% at $83.28 on the last check Tuesday.