Royal Caribbean Selling $500M in Notes


Royal Caribbean Cruises is offering $500 million in senior unsecured notes due 2022.

The Miami-based cruise ship operator plans to use the proceeds to repay $153 million in outstanding revolver facility debt due 2014 and $338 million in outstanding unsecured revolving credit facility debt due 2016.

Citigroup, JPMorgan, Bank of America Merrill Lynch, Goldman Sachs, Morgan Stanley and RBS are the bookrunners.

The bonds could price today in a drive-by offering.

The company has a total of $7.78 billion in long-term debt, according to a regulatory filing.

Royal Caribbean is rated Ba1 by Moody’s Investors Service and BB by Standard & Poor’s.