Royal Caribbean to sell $250 million six-year notes by mid-week

By Paul A. Harris

St. Louis, June 29 - Royal Caribbean Cruises Ltd. plans to price a $250 million offering of six-year senior unsecured notes (BB-/) on Tuesday afternoon or Wednesday, according to an informed source.

Morgan Stanley & Co. Inc., Banc of America Securities LLC and Goldman Sachs & Co. are joint bookrunners for the Securities and Exchange Commission-registered deal.

Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Scotia Capital, BNP Paribas, DnB NOR Markets, Mizuho Securities USA Inc., RBS Securities Inc. and SEB are co-managers.

The notes have a make-whole call at Treasuries plus 50 basis points.

Proceeds will be used to repay the Miami-based cruise vacation company's revolving credit facility.

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