Loan notes due in 2023 and 2025 will be secured against 28 of its ships and “material intellectual property”.
Funds raised will be used to repay a $2.35 billion loan entered into on 23 March that is due on 22 March 2021. RCL added: “The company expects to use the remainder (of) net proceeds for general corporate purposes, which may include repayment of additional indebtedness.”
The cruise giant, which operates as Royal Caribbean International, Celebrity Cruises, Azamara and Silversea Cruises, did not specify which vessels were used as collateral.
RCL is a 50% joint venture owner of Tui Cruises and a 49% shareholder of the Spain’s Pullmantur Cruceros. Together these brands operate 62 ships, with an additional 16 on order.
RCL said earlier that its global operations would be suspended until “at least 11 June”. It said it had $2.4 billion in customer deposits, but a third of these are cruise credits due to Covid-19 cancellations.
