Market News

Royal Caribbean (NYSE:RCL) Slides on Notes Offering

Shares of Norwegian cruise line Royal Caribbean (NYSE:RCL) are sliding in today’s trade after the company priced concurrent private offerings which include 9.25% Senior Guaranteed Notes ($1 billion) and 8.25% Senior Secured Notes ($1 billion).

The company is guaranteeing the secured notes with Celebrity Cruises Inc., Celebrity Cruises Holdings, and some of its vessel-owning subsidiaries.

In the meantime, the company has noted that current bookings are outstripping 2019 levels on the back of robust demand and expects 2023 bookings to be at historically buoyant levels.

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