Royal Caribbean Cruises Ltd. is selling bonds as Fitch Ratings upgraded the cruise operator’s credit rating citing strength in the industry, kicking off a busy week with another seven borrowers looking to tap the investment-grade market Monday.
Royal Caribbean’s bond, maturing in 10 years, carries initial price talk of Treasury plus 160 basis points, according to a person with knowledge of the matter. Proceeds will finance the upcoming delivery of Celebrity Xcel ship, redeem or refinance a portion of the company’s 2026 senior notes, and fund general corporate purposes, said the person, who asked not to be identified as the details are private.