MIAMI, Oct. 13, 2020 /PRNewswire/ — Royal Caribbean Group (NYSE: RCL) (the “Company”) today announced that it has priced its previously announced private offering of $500 million aggregate principal amount of 2.875% Convertible Senior Notes due 2023 (the “Convertible Notes”). In connection with the offering of the Convertible Notes, the Company granted certain of the initial purchasers of the Convertible Notes a 13-day option to purchase up to an additional $75 million aggregate principal amount of the Convertible Notes. The offering is expected to close on October 16, 2020, subject to customary closing conditions. The Company expects to use a portion of the net proceeds from the offering to repay its 2.650% Senior Notes due 2020, with the remainder to be used for general corporate purposes.
The Convertible Notes will mature on November 15, 2023, unless earlier converted, redeemed pursuant to a tax redemption or repurchased. The initial conversion rate