By Paul A. Harris
St. Louis, May 5 - Royal Caribbean Cruises Ltd. sold $250 million of 8% senior notes due May 15, 2010 (Ba2/BB+) at 99.339 to yield 8 1/8%, according to a syndicate source.
Price talk was for a yield of 8 1/8%-8 3/8%.
Goldman Sachs & Co. and Citigroup were joint bookrunners.
Proceeds from the registered offering will be used for general corporate purposes including capital expenditures.
Royal Caribbean is a Miami-based cruise line operator.
| Issuer: | Royal Caribbean Cruises Ltd.
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| Amount: | $250 million
|
| Maturity: | May 15, 2010
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| Security description: | Senior notes
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| Boookrunner: | Goldman Sachs, Citigroup (joint)
|
| Coupon: | 8%
|
| Price: | 99.339
|
| Yield: | 8 1/8%
|
| Spread: | 424 basis points
|
| Call features: | Non-callable
|
| Settlement date: | May 9, 2003
|
| Ratings: | Moody's: Ba2
|
| Standard & Poor's: BB+
|
| Cusip: | 780153AN2
|
| Price talk: | 8 1/8%-8 3/8%
|
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