Royal Caribbean to repay $2.35 billion bridge facility via new notes

By Rebecca Melvin

New York, May 13 – Royal Caribbean Cruises Ltd. said it plans to repay a $2.35 billion 364-day senior secured term loan agreement with proceeds of a new two-tranche notes deal announced on Wednesday.

The company’s term loan is with Morgan Stanley Senior Funding, Inc. as the administrative agent and collateral agent entered into on March 23, according to the company’s release.

Remaining proceeds are expected to be used for general corporate purposes, which may include repayment of additional debt.

The cruise line is based in Miami.

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