Royal Caribbean Cruises Ltd.
RCL,
said Thursday it has launched a private offering of $1.0 billion of senior-secured notes that mature in 2032. Proceeds will be used along with cash on hand and/or borrowings under the cruise operator’s revolving credit facilities to redeem all of its outstanding 11.625% notes due 2027. The announcement comes just hours after Royal Caribbean raised its earnings guidance for the year, citing “accelerating demand” and a strong start to the year. The stock was up 5% premarket and has gained 61% in the last 12 months, outperforming the S&P 500
SPX,
which is up 25%.
