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Royal Caribbean Cruises Ltd (NYSE:RCL) shares are trading lower by 3.87% to $37.21 Monday morning after the company announced a private offering of senior convertible notes in an aggregate principal amount of up to $900 million.
What Happened?
"The purpose of the offering is to replace some of the existing near-term maturities of convertible bonds with new longer-term convertible bonds in a manner which is non-dilutive to shareholders as described below," said Naftali Holtz, Chief Financial Officer of Royal Caribbean Group.
Royal Caribbean says the company intends to use the proceeds from the sale of the Convertible Notes to repurchase a portion of its 2.875% convertible senior notes due November 15, 2023 and 4.25% convertible senior notes due June 15, 2023 through open-market purchases, privately negotiated transactions, tender offers or otherwise.
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According to data from Benzinga Pro, Royal Caribbean has a 52-week high of $98.27 and a 52-week low of $31.09.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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