MIAMI, Aug. 20, 2026 /CNW/ -- Royal Caribbean Cruises Ltd. (NYSE:RCL) (the &#34;Company&#34;) today announced that it has completed its registered public offering of $1.25 billion aggregate principal amount of 5.550%

<p xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="legendSpanClass">MIAMI</span>, <span xmlns="http://www.w3.org/1999/xhtml" class="legendSpanClass">Aug. 20, 2026</span> /CNW/ -- Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/RCL">RCL</a>) (the &#34;Company&#34;) today announced that it has completed its registered public offering of $1.25 billion aggregate principal amount of 5.550% senior unsecured notes due 2034 (the &#34;Notes&#34;). The Notes will mature on January 20, 2034, unless earlier redeemed or repurchased.</p>
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                    <img xmlns="http://www.w3.org/1999/xhtml" src="https://mmx.prnewswire.com/media/MS1783546/Royal-Caribbean-Group-Logo.jpg?id=OA2900527" title="RCG logo blue" alt="RCG logo blue"></img>
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<p xmlns="http://www.w3.org/1999/xhtml">The Company intends to use the net proceeds from the sale of the Notes to repay a portion of the outstanding borrowings under its floating rate term loan facilities and any remaining net proceeds to repay or refinance other existing indebtedness.</p><p xmlns="http://www.w3.org/1999/xhtml">BNP Paribas Securities Corp., BofA Securities, Inc. and Citigroup Global Markets Inc. acted as lead book-running managers for the offering.</p><p xmlns="http://www.w3.org/1999/xhtml">The Notes were offered and sold pursuant to an automatic shelf registration statement (including a prospectus) that was filed by the Company with the Securities and Exchange Commission on February 29, 2024, and became effective upon filing.</p><p xmlns="http://www.w3.org/1999/xhtml">This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.</p><p xmlns="http://www.w3.org/1999/xhtml"><b xmlns="http://www.w3.org/1999/xhtml">Special Note Regarding Forward-Looking Statements</b></p><p xmlns="http://www.w3.org/1999/xhtml">Certain statements in this press release relating to, among other things, the offering and sale of the Notes constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited, to: statements regarding terms of the offering of the Notes and the intended use of proceeds. Words such as &#34;anticipate,&#34; &#34;believe,&#34; &#34;committed,&#34; &#34;could,&#34; &#34;driving,&#34; &#34;estimate,&#34; &#34;expect,&#34; &#34;goal,&#34; &#34;intend,&#34; &#34;may,&#34; &#34;plan,&#34; &#34;encouraged,&#34; &#34;project,&#34; &#34;shaping up,&#34; &#34;position,&#34; &#34;allows,&#34; &#34;seek,&#34; &#34;should,&#34; &#34;will,&#34; &#34;would,&#34; &#34;considering,&#34; and similar expressions are intended to help identify forward-looking statements. Forward-looking statements reflect management&#39;s current expectations, are based on judgments, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause the Company&#39;s actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements. Examples of these risks, uncertainties and other factors include, but are not limited to, the following: the impact of the economic and geopolitical environment on key aspects of the Company&#39;s business, such as the demand for cruises, passenger spending, and operating costs; changes in operating costs; the unavailability or cost of air service; incidents or adverse publicity concerning the Company&#39;s ships, port facilities, land destinations and/or passengers or the cruise vacation industry in general; the effects of weather, climate events and/or natural disasters on the Company&#39;s business; risks related to the Company&#39;s sustainability activities; the impact of issues at shipyards, including ship delivery delays or ship construction cost increases; shipyard unavailability; unavailability of ports of call; vacation industry competition and increase in industry capacity; inability to manage the Company&#39;s cost and capital allocation strategies; the uncertainties of conducting business globally and expanding into new markets and new ventures, including potential acquisitions; issues with travel advisers that sell and market the Company&#39;s cruises; reliance on third-party service providers; potential unavailability of insurance coverage; disease outbreaks and increased concern about the risk of illness on the Company&#39;s ships or when travelling to or from the Company&#39;s ships, which could cause a decrease in demand, guest cancellations, and ship redeployments; the risks and costs related to cyber security attacks, data breaches, protecting the Company&#39;s systems and maintaining data integrity and security; uncertainties of a foreign legal system as the Company is not incorporated in the United States; the Company&#39;s ability to obtain sufficient financing or capital to fund its capital expenditures, operations, debt repayments and other financing needs; the Company&#39;s expectation and ability to pay a cash dividend on its common stock in the future; changes to the Company&#39;s dividend policy; growing anti-tourism sentiments and environmental concerns; changes in U.S. or other countries&#39; foreign travel policy; impact of new or changing legislation and regulations (including environmental regulations) or governmental orders on the Company&#39;s business; fluctuations in foreign currency exchange rates, fuel prices and interest rates; further impairments of the Company&#39;s goodwill, long-lived assets, equity investments and notes receivable; an inability to source crew or provisions and supplies from certain places; the Company&#39;s ability to recruit, develop and retain high quality personnel; and pending or threatened litigation, investigations and enforcement actions.</p><p xmlns="http://www.w3.org/1999/xhtml">Forward-looking statements should not be relied upon as predictions of actual results. Undue reliance should not be placed on the forward-looking statements in this release, which are based on information available to the Company on the date hereof. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.</p><p xmlns="http://www.w3.org/1999/xhtml"><b xmlns="http://www.w3.org/1999/xhtml">About Royal Caribbean Group</b></p><p xmlns="http://www.w3.org/1999/xhtml">Royal Caribbean Group is a leading global vacation company spanning cruise, exclusive destinations, and land-based vacation experiences. The company operates 71 ships sailing to more than 1,000 destinations across all seven continents through its three wholly owned brands - Royal Caribbean, Celebrity Cruises, and Silversea - and a 50% joint venture interest in TUI Cruises, which operates the Mein Schiff and Hapag-Lloyd brands.</p>



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Royal Caribbean Group announces completion of offering of $1.25 billion senior unsecured notes due 2034

Royal Caribbean completes $1.25B notes offering to refinance debt

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>MIAMI, Aug. 20, 2026 /CNW/ -- Royal Caribbean Cruises Ltd. (NYSE:RCL) (the &amp;#34;Company&amp;#34;) today announced that it has completed its registered public offering of $1.25 billion aggregate principal amount of 5.550%</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Royal Caribbean Group announced the completion of a $1.25 billion senior unsecured note offering at 5.550% due 2034. Proceeds will repay a portion of floating-rate debt and refinance other indebtedness, potentially lowering interest costs and reducing refinancing risk. The move strengthens liquidity and the balance sheet ahead of cruising demand cycles.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Royal Caribbean completed a $1.25B 5.550% senior unsecured notes due 2034.</li><li>Proceeds will repay part of floating-rate term loan and refinance other indebtedness.</li><li>BNP Paribas Securities Corp., BofA Securities, Inc. and Citigroup Global Markets led the offering.</li><li>Notes mature January 20, 2034; shelf registration filed February 29, 2024.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Royal Caribbean Group (RCL)</strong>: Issuer; completion of debt offering improves liquidity and reduces floating-rate exposure, potentially aiding credit metrics.</li><li><strong>BNP Paribas (BNP.PA)</strong>: Lead book-running manager; participation signals robust demand for corporate debt.</li><li><strong>Bank of America Corporation (BAC)</strong>: Underwriter; benefits from underwriting fees; indirect relevance to RCL&#039;s financing activity.</li><li><strong>Citigroup Inc. (C)</strong>: Underwriter; similar fee-income impact; not a direct driver for RCL equity.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. Fits as a financing transaction that alters RCL&#039;s capital structure and leverage profile, with potential cash-flow and interest-cost implications.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Proceeds used to repay floating-rate debt may lower near-term interest costs.</li><li>Extends maturity profile to 2034, reducing refinancing risk.</li><li>Fixed-rate debt provides cash-flow visibility amid cruise-demand cycles.</li><li>Market reaction will depend on broader rate environment and sentiment on cruise names.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Offering size: $1.25 billion aggregate principal.</li><li>Coupon: 5.550%.</li><li>Maturity: January 20, 2034.</li><li>Use of proceeds: repay part of floating-rate term loan facilities; refinance other indebtedness.</li><li>Underwriters: BNP Paribas Securities Corp., BofA Securities, Inc., and Citigroup Global Markets Inc.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Bullish over the next 3–6 months as debt refinancing improves interest expense and liquidity.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="legendSpanClass">MIAMI</span>, <span xmlns="http://www.w3.org/1999/xhtml" class="legendSpanClass">Aug. 20, 2026</span> /CNW/ -- Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/RCL">RCL</a>) (the &#34;Company&#34;) today announced that it has completed its registered public offering of $1.25 billion aggregate principal amount of 5.550% senior unsecured notes due 2034 (the &#34;Notes&#34;). The Notes will mature on January 20, 2034, unless earlier redeemed or repurchased.</p>
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                <p xmlns="http://www.w3.org/1999/xhtml">
                    <img xmlns="http://www.w3.org/1999/xhtml" src="https://mmx.prnewswire.com/media/MS1783546/Royal-Caribbean-Group-Logo.jpg?id=OA2900527" title="RCG logo blue" alt="RCG logo blue"></img>
                </p>
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<p xmlns="http://www.w3.org/1999/xhtml">The Company intends to use the net proceeds from the sale of the Notes to repay a portion of the outstanding borrowings under its floating rate term loan facilities and any remaining net proceeds to repay or refinance other existing indebtedness.</p><p xmlns="http://www.w3.org/1999/xhtml">BNP Paribas Securities Corp., BofA Securities, Inc. and Citigroup Global Markets Inc. acted as lead book-running managers for the offering.</p><p xmlns="http://www.w3.org/1999/xhtml">The Notes were offered and sold pursuant to an automatic shelf registration statement (including a prospectus) that was filed by the Company with the Securities and Exchange Commission on February 29, 2024, and became effective upon filing.</p><p xmlns="http://www.w3.org/1999/xhtml">This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.</p><p xmlns="http://www.w3.org/1999/xhtml"><b xmlns="http://www.w3.org/1999/xhtml">Special Note Regarding Forward-Looking Statements</b></p><p xmlns="http://www.w3.org/1999/xhtml">Certain statements in this press release relating to, among other things, the offering and sale of the Notes constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited, to: statements regarding terms of the offering of the Notes and the intended use of proceeds. Words such as &#34;anticipate,&#34; &#34;believe,&#34; &#34;committed,&#34; &#34;could,&#34; &#34;driving,&#34; &#34;estimate,&#34; &#34;expect,&#34; &#34;goal,&#34; &#34;intend,&#34; &#34;may,&#34; &#34;plan,&#34; &#34;encouraged,&#34; &#34;project,&#34; &#34;shaping up,&#34; &#34;position,&#34; &#34;allows,&#34; &#34;seek,&#34; &#34;should,&#34; &#34;will,&#34; &#34;would,&#34; &#34;considering,&#34; and similar expressions are intended to help identify forward-looking statements. Forward-looking statements reflect management&#39;s current expectations, are based on judgments, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause the Company&#39;s actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements. Examples of these risks, uncertainties and other factors include, but are not limited to, the following: the impact of the economic and geopolitical environment on key aspects of the Company&#39;s business, such as the demand for cruises, passenger spending, and operating costs; changes in operating costs; the unavailability or cost of air service; incidents or adverse publicity concerning the Company&#39;s ships, port facilities, land destinations and/or passengers or the cruise vacation industry in general; the effects of weather, climate events and/or natural disasters on the Company&#39;s business; risks related to the Company&#39;s sustainability activities; the impact of issues at shipyards, including ship delivery delays or ship construction cost increases; shipyard unavailability; unavailability of ports of call; vacation industry competition and increase in industry capacity; inability to manage the Company&#39;s cost and capital allocation strategies; the uncertainties of conducting business globally and expanding into new markets and new ventures, including potential acquisitions; issues with travel advisers that sell and market the Company&#39;s cruises; reliance on third-party service providers; potential unavailability of insurance coverage; disease outbreaks and increased concern about the risk of illness on the Company&#39;s ships or when travelling to or from the Company&#39;s ships, which could cause a decrease in demand, guest cancellations, and ship redeployments; the risks and costs related to cyber security attacks, data breaches, protecting the Company&#39;s systems and maintaining data integrity and security; uncertainties of a foreign legal system as the Company is not incorporated in the United States; the Company&#39;s ability to obtain sufficient financing or capital to fund its capital expenditures, operations, debt repayments and other financing needs; the Company&#39;s expectation and ability to pay a cash dividend on its common stock in the future; changes to the Company&#39;s dividend policy; growing anti-tourism sentiments and environmental concerns; changes in U.S. or other countries&#39; foreign travel policy; impact of new or changing legislation and regulations (including environmental regulations) or governmental orders on the Company&#39;s business; fluctuations in foreign currency exchange rates, fuel prices and interest rates; further impairments of the Company&#39;s goodwill, long-lived assets, equity investments and notes receivable; an inability to source crew or provisions and supplies from certain places; the Company&#39;s ability to recruit, develop and retain high quality personnel; and pending or threatened litigation, investigations and enforcement actions.</p><p xmlns="http://www.w3.org/1999/xhtml">Forward-looking statements should not be relied upon as predictions of actual results. Undue reliance should not be placed on the forward-looking statements in this release, which are based on information available to the Company on the date hereof. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.</p><p xmlns="http://www.w3.org/1999/xhtml"><b xmlns="http://www.w3.org/1999/xhtml">About Royal Caribbean Group</b></p><p xmlns="http://www.w3.org/1999/xhtml">Royal Caribbean Group is a leading global vacation company spanning cruise, exclusive destinations, and land-based vacation experiences. The company operates 71 ships sailing to more than 1,000 destinations across all seven continents through its three wholly owned brands - Royal Caribbean, Celebrity Cruises, and Silversea - and a 50% joint venture interest in TUI Cruises, which operates the Mein Schiff and Hapag-Lloyd brands.</p>



<p xmlns="http://www.w3.org/1999/xhtml" id="PURL"><img xmlns="http://www.w3.org/1999/xhtml" title="Cision" width="12" height="12" alt="Cision" src="https://edge.prnewswire.com/c/img/favicon.png?sn=FL30751&amp;sd=2026-08-20"></img> View original content to download multimedia:<a xmlns="http://www.w3.org/1999/xhtml" id="PRNURL" rel="nofollow" href="https://www.prnewswire.com/news-releases/royal-caribbean-group-announces-completion-of-offering-of-1-25-billion-senior-unsecured-notes-due-2034--302856832.html" target="_blank">https://www.prnewswire.com/news-releases/royal-caribbean-group-announces-completion-of-offering-of-1-25-billion-senior-unsecured-notes-due-2034--302856832.html</a></p><p xmlns="http://www.w3.org/1999/xhtml">SOURCE Royal Caribbean Group</p><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://rt.newswire.ca/rt.gif?NewsItemId=C3556&amp;Transmission_Id=202608201630CANADANWCANADAPR_C3556&amp;DateId=20260820" style="border:0px; width:1px; height:1px;"></img><p xmlns="http://www.w3.org/1999/xhtml"></p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" title="Cision" width="12" height="12" alt="Cision" src="https://edge.prnewswire.com/c/img/favicon.png?sn=C3556&amp;sd=2026-08-20"></img> View original content to download multimedia: <a xmlns="http://www.w3.org/1999/xhtml" id="CNWURL" rel="nofollow" href="http://www.newswire.ca/en/releases/archive/August2026/20/c3556.html" target="_blank">http://www.newswire.ca/en/releases/archive/August2026/20/c3556.html</a></p>

Royal Caribbean Group announced the completion of a $1.25 billion senior unsecured note offering at 5.550% due 2034. Proceeds will repay a portion of floating-rate debt and refinance other indebtedness, potentially lowering interest costs and reducing refinancing risk. The move strengthens liquidity and the balance sheet ahead of cruising demand cycles.

News insight

Royal Caribbean Group announces completion of offering of $1.25 billion senior unsecured notes due 2034

AI summary

Sentiment rationale

Key facts

Corporate Developments