Royal Caribbean Group announces completion of private exchanges with certain holders of its 6.000% convertible senior notes due 2025

Core Viewpoint - Royal Caribbean Cruises Ltd. has successfully completed privately negotiated exchange transactions involving approximately $827 million of its 6.000% Convertible Senior Notes due 2025, resulting in the cancellation of these notes and a reduction in outstanding shares by 5.1 million shares [1][2][3] Group 1: Exchange Transactions - The exchange involved holders exchanging approximately $827 million in principal amount of the 2025 Notes for about 11.4 million shares of common stock and $827 million in cash, which includes accrued and unpaid interest [1] - Following the exchange, approximately $323 million in principal amount of the 2025 Notes remain outstanding [2] Group 2: Financial Strategy - The Chief Financial Officer stated that the transaction is part of a strategy to strengthen the balance sheet through debt paydowns and opportunistic refinancings, addressing a 2025 debt maturity [3] - The cash portion of the exchange was funded through borrowings under the company's revolving credit facilities [1][3] Group 3: Company Overview - Royal Caribbean Group operates a global fleet of 68 ships across five brands, serving millions of guests annually and traveling to approximately 1,000 destinations [8]