Royal Caribbean Group Proposes New Unsecured Offering To Refinance 2029 Senior Notes

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Royal Caribbean Cruises Ltd. (NYSE: RCL) has initiated a private offering of senior unsecured notes, aiming to raise $1.5 billion in total principal, with a maturity date set for 2033.

The Company intends to utilize the proceeds from the Notes sale, combined with funds from its revolving credit facilities, to completely redeem its 9.250% Senior Notes due 2029 and to partially redeem its 8.250% Senior Secured Notes due 2029, including covering fees and expenses related to these redemptions.

These Notes are being offered exclusively to entities believed to be qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended, and to certain non-U.S. investors under Regulation S. The Notes will not be registered under the Securities Act or any state securities laws and, therefore, cannot be offered or sold within the United States unless an exemption from registration is applicable.

Important Notice Regarding Forward-Looking Statements

This press release contains certain forward-looking statements related to the offering and sale of the Notes, as defined under the Private Securities Litigation Reform Act of 1995. These statements may include, but are not limited to, details about the terms of the Notes offering and the intended use of the proceeds. Words and phrases such as “anticipate,” “believe,” “consider,” “could,” “drive,” “estimate,” “expect,” “goal,” “intend,” “may,” “plan,” “project,” “seek,” “should,” “will,” “would,” and similar expressions are used to identify these forward-looking statements.

Forward-looking statements reflect management’s current expectations, which are based on their judgment and are inherently uncertain. They are subject to various risks, uncertainties, and other factors that could cause actual results, performance, or achievements to differ significantly from those projected. These risks and uncertainties include, but are not limited to: economic and geopolitical impacts on the Company’s business; fluctuations in demand for cruises, passenger spending, and operational costs; the availability and cost of air travel; potential adverse events such as terrorist attacks, war, and similar incidents; disease outbreaks and health concerns on the Company’s ships or related travel; negative incidents or publicity related to the Company’s ships, port facilities, land destinations, or the cruise industry as a whole; effects of weather, natural disasters, and seasonal variations on business operations; issues at shipyards, including delays, cancellations, or increased construction costs; shipyard availability; competition within the vacation industry and changes in industry capacity; port availability; sourcing challenges for crew, provisions, and supplies; challenges of conducting international business and expanding into new markets; the Company’s ability to secure necessary financing; the impact of existing and potential future indebtedness and related restrictions; changes in foreign travel policies; anti-tourism sentiments and environmental concerns; guest and crew safety, health, and security; effects of new or changing legislation and regulations; foreign legal system uncertainties; fluctuations in foreign currency exchange rates, interest rates, and costs of food and fuel; impairments to the Company’s goodwill and other assets; recruitment, development, and retention of quality personnel; cybersecurity risks, data breaches, and maintaining the integrity and security of business information and personal data; and pending or potential litigation and regulatory actions.

Forward-looking statements are not guarantees of future results and should not be relied upon as such. The Company does not undertake any obligation to publicly update or revise any forward-looking statements in this press release, whether due to new information, future events, or otherwise.

About Royal Caribbean Group

Royal Caribbean Group (NYSE: RCL) stands as a leader in the vacation industry, boasting a global fleet of 68 ships under its five distinguished brands, reaching nearly 1,000 destinations worldwide. Committed to offering the finest vacations responsibly, Royal Caribbean Group welcomes millions of guests annually through its premier brands such as Royal Caribbean International, Celebrity Cruises, and Silversea. Additionally, the company is expanding its land-based vacation experiences with Perfect Day at CocoCay and the Royal Beach Club collection. Royal Caribbean Group also holds a 50% stake in a joint venture that manages TUI Cruises and Hapag-Lloyd Cruises.