Royal Caribbean Announces Pricing of $300 Million Senior Notes Offering
June 30 2009 - 4:56PM
PR Newswire (US)
MIAMI, June 30 /PRNewswire-FirstCall/ -- Royal Caribbean Cruises
Ltd. (NYSE:RCLOSE:RCL) today announced that it has priced an
offering of $300 million aggregate principal amount of Senior Notes
due 2015. The Senior Notes were priced at 97.399% of the principal
amount, will bear interest at the rate of 11.875% per annum and
will mature on July 15, 2015. The Senior Notes are expected to be
issued on July 6, 2009. The company plans to use the proceeds from
the offering for general corporate purposes, including repayment of
amounts outstanding under its unsecured revolving credit facility.
Morgan Stanley & Co. Incorporated, Banc of America Securities
LLC and Goldman, Sachs & Co. acted as joint book-running
managers and representatives of the underwriters for the offering.
The offering was made pursuant to a shelf registration statement
filed with the Securities and Exchange Commission. A written
prospectus for the offering meeting the requirements of Section 10
of the Securities Act of 1933 (other than a free writing prospectus
as defined in Securities Act Rule 405) may be obtained from the
offices of Morgan Stanley at 180 Varick Street, Second Floor, New
York, New York 10014, Attention: Prospectus Department or by email
at . Royal Caribbean Cruises Ltd. is a global cruise vacation
company that operates Royal Caribbean International, Celebrity
Cruises, Pullmantur, Azamara Cruises and CDF Croisieres de France.
The company has a combined total of 37 ships in service and six
under construction. It also offers unique land-tour vacations in
Alaska, Asia, Australia, Canada, Europe, Latin America and New
Zealand. This press release does not constitute an offer to sell or
the solicitation of an offer to buy the Senior Notes, nor shall it
constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale is unlawful. Certain
statements in this news release are forward-looking statements.
Words such as "anticipate", "believe", "could", "estimate",
"expect", "goal", "intend", "may", "plan", "project", "seek",
"should", "will", and similar expressions are intended to help
identify these forward-looking statements. Forward-looking
statements do not guarantee future performance and may involve
risks, uncertainties and other factors, which could cause our
actual results, performance or achievements to differ materially
from the future results, performance or achievements expressed or
implied in those forward-looking statements. Examples of these
risks, uncertainties and other factors include, but are not limited
to the following: the adverse impact of the continuing worldwide
economic downturn on the demand for cruises, the impact of the
economic downturn on the availability of our credit facility and
our ability to generate cash flows from operations or obtain new
borrowings from the credit or capital markets in amounts sufficient
to satisfy our capital expenditures, debt payment requirements and
other financing needs, the impact of disruptions in the global
financial markets on the ability of our counterparties and others
to perform their obligations to us, the uncertainties of conducting
business internationally and expanding into new markets, the
volatility in fuel prices an foreign exchange rates, the impact of
changes in operating and financing costs, including changes in
foreign currency, interest rates, fuel, food, payroll, airfare for
our shipboard personnel, insurance and security costs, impact of
problems encountered at shipyards and their subcontractors
including insolvency or financial difficulties, vacation industry
competition and changes in industry capacity and overcapacity, the
impact of tax and environmental laws and regulations affecting our
business or our principal shareholders, the impact of changes in
other laws and regulations affecting our business, the impact of
pending or threatened litigation, enforcement actions, fines or
penalties, the impact of delayed or cancelled ship orders, the
impact of emergency ship repairs, including the related lost
revenue, the impact on prices of new ships due to shortages in
available shipyard facilities, component parts and shipyard
consolidations, negative incidents involving cruise ships including
those involving the health and safety of passengers, reduced
consumer demand for cruises as a result of any number of reasons,
including geo-political and economic uncertainties and the
unavailability or cost of air service, the international political
climate, fears of terrorist and pirate attacks, armed conflict and
the resulting concerns over safety and security aspects of
traveling, the impact of the spread of contagious diseases, the
impact of changes or disruptions to external distribution channels
for our guest bookings, the loss of key personnel or our inability
to retain or recruit qualified personnel, changes in our stock
price or principal shareholders, uncertainties of a foreign legal
system as we are not incorporated in the United States, the
unavailability of ports of call, weather, and other factors
described in further detail in Royal Caribbean Cruises Ltd.'s
filings with the Securities and Exchange Commission. The above
examples are not exhaustive and new risks emerge from time to time.
We undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. In addition, certain financial measures
in this news release constitute non-GAAP financial measures as
defined by Regulation G. A reconciliation of these items can be
found on our investor relations website at
http://www.rclinvestor.com/. DATASOURCE: Royal Caribbean Cruises
Ltd. CONTACT: Ian Bailey, Royal Caribbean Cruises Ltd.,
+1-305-982-2625 Web Site: http://www.rclinvestor.com/
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