Royal Caribbean $250 million seven-year notes talked at 8 1/8%-8 3/8%, to price Tuesday morning

By Paul A. Harris

St. Louis, May 5 - Royal Caribbean Cruises Ltd. is set to price a drive-by offering of $250 million of senior notes due 2010 Tuesday morning, according to a market source.

The deal is talked at 8 1/8%-8 3/8% and is non-callable.

Bookrunners are Goldman Sachs & Co. and Citigroup. Co-managers are Banc of America Securities LLC, Scotia Capital, Wachovia Securities, Credit Suisse First Boston and Morgan Stanley.

Proceeds from the registered deal will be used for general corporate purposes including capital expenditures.

The cruise line is based in Miami.

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