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Royal Caribbean kicks off $1.25 billion notes offering

Royal Caribbean Group RCL, +3.67% said Wednesday that it has commenced a private offering of $1.25 billion in senior notes, due 2028. The company plans to use the proceeds from the offering to repay debt maturing or required to be paid in 2021 and 2022, with the remaining used for general corporate purposes. The cruise operator had $19.33 billion in total debt as of Dec. 31, including commercial paper and capital leases, and $10.2 billion of liquidity. The stock rose 1.3% in premarket trading. It has rallied 12.3% year to date through Tuesday, while the S&P 500 SPX, +0.38% has gained 4.1%.

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