Royal Caribbean Group Begins Offering Senior Unsecured Notes for Future Growth and Refinancing

Royal Caribbean Group's Latest Financial Move

In a recent announcement made on September 22, 2025, Royal Caribbean Cruises Ltd. (listed under NYSE: RCL) revealed its intention to initiate a registered public offering of senior unsecured notes. This strategic decision aims to pave the way for the company's continued growth and financial stability.

Purpose of the Offering

The primary goal behind this offering is to secure necessary funds for the upcoming delivery of the Celebrity Xcel. The company is opting for this route instead of utilizing its existing committed export credit agency facility. The remaining funds garnered from this offering will be allocated toward the redemption, refinancing, or repurchase of existing debts, which includes debts that are outstanding under its revolving credit facilities.

This move comes at a critical time for the company, as they continue to navigate the complex landscape of the travel and cruise industry, especially post-COVID. By securing these notes, Royal Caribbean seeks to maintain financial flexibility and robustness while adapting to market changes.

Key Players in the Offering

Royal Caribbean has appointed three significant financial institutions to manage this offering. BofA Securities, Inc., Goldman Sachs & Co. LLC, and Morgan Stanley & Co. LLC are acting as lead book-running managers for the issuance of these notes. Their expert guidance is expected to be pivotal in facilitating a successful offering.

Registration and Investor Information

The offering is being conducted under an automatic shelf registration statement, which includes a prospectus filed with the Securities and Exchange Commission (SEC) on February 29, 2024. This statement allows for rapid issuance, providing the company with the agility needed to respond swiftly to market conditions. Potential investors are encouraged to read the accompanying prospectus and additional documents for detailed insights into the company's financial health and the specifics of the offering.

Copies of the prospectus and related documentation can be obtained from the financial institutions managing the offering, as well as directly from the SEC’s EDGAR database.

Forward-Looking Statements

In the press release, Royal Caribbean also notes that certain statements concerning the offering are forward-looking statements under the Private Securities Litigation Reform Act of 1995. This includes projections and expectations regarding the potential impact and outcomes of this financial move. Such statements are inherently subject to risks and uncertainties, including fluctuating market conditions, operational costs, and competitive elements in the travel sector. The company emphasizes that actual results may differ considerably from any projections made.

About Royal Caribbean Group

Royal Caribbean Group stands as a leader in the vacation industry, boasting a fleet of 68 ships across five brands, cruising to destinations around the globe. Their commitment to delivering top-notch vacation experiences is reflected in their diverse portfolio that includes Royal Caribbean, Celebrity Cruises, and Silversea. Furthermore, their expanding land-based vacation portfolio continues to attract guests with innovative offerings.

By securing funds through this latest offering, Royal Caribbean Group showcases its adaptability and foresight in maintaining its status as a premier choice for travelers seeking memorable cruise experiences. With continued growth and innovation, the company is well-positioned to navigate the ever-changing dynamics of the cruise industry and deliver exciting travel options to millions of guests annually.