Summary
Royal Caribbean Cruises Ltd. (RCL) filed an 8-K on June 7, 2006, to report on the entry into a material definitive agreement regarding a significant debt offering. The company entered into an underwriting agreement with a syndicate of underwriters, led by Goldman, Sachs & Co. and Barclays Capital Inc., to offer and sell $550 million in 7.00% Senior Notes due 2013 and $350 million in 7.25% Senior Notes due 2016. This transaction represents a substantial capital raise for RCL, totaling $900 million. The notes are being issued under a previously filed Registration Statement on Form S-1. Investors should note the interest rates and maturity dates of these new debt issuances, which indicate the company's cost of borrowing and long-term financial strategy. The filing underscores RCL's ongoing efforts to manage its capital structure and fund its operations or growth initiatives.
Key Highlights
- 1RCL entered into an underwriting agreement on June 7, 2006.
- 2The agreement is for the offer and sale of $550,000,000 in 7.00% Senior Notes due 2013.
- 3The agreement also covers the offer and sale of $350,000,000 in 7.25% Senior Notes due 2016.
- 4The total principal amount of notes offered is $900,000,000.
- 5The notes are being issued under a previously filed Registration Statement on Form S-1 (File No. 333-115090).
- 6The underwriting syndicate includes major financial institutions such as Goldman, Sachs & Co. and Barclays Capital Inc.
- 7The filing was made pursuant to Item 1.01 of Form 8-K, concerning entry into a material definitive agreement.