Royal Caribbean’s (RCL) $1.25B Debt Deal Hides A Bigger Story

Royal Caribbean Group completed a $1.25 billion debt offering on August 20, issuing notes carrying a 5.55% coupon maturing on January 20, 2034. The proceeds were designated for repaying floating-rate term loans and refinancing other debt obligations under a shelf registration established on February 29, 2024.
The cruise operator reported strong operational performance in the second quarter, posting adjusted earnings per share of $4.21 and raising full-year adjusted earnings guidance to a range