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ROYAL CARIBBEAN CRUISES LTD. ANNOUNCES PUBLIC OFFERING OF ITS NOTES

ROYAL CARIBBEAN CRUISES LTD. ANNOUNCES PUBLIC OFFERING OF ITS NOTES
 MIAMI, May 20 /PRNewswire/ -- Royal Caribbean Cruises Ltd. (RCCL) announced today a public offering of $126 million of its 11 3/8 percent Senior Subordinated Notes due 2002 at 99.26 percent of the principal amount to yield 11 1/2 percent. The notes are being underwritten by Merrill Lynch & Co.; Lehman Brothers; Citicorp Securities Markets, Inc.; and Lazard Freres & Co.
 RCCL's senior vice president and chief financial officer Richard J. Glasier said: "The net proceeds of the notes will be used to reduce existing bank debt and the offering will lengthen the average maturity of RCCL's debt structure. The sale of the notes marks RCCL's entry into the public capital markets. Due to the positive response in the marketplace, we increased the original $100 million offering to $126 million. With the completion of this offering, RCCL's liquidity will be in excess of $200 million which gives us additional financial strength and flexibility."
 Royal Caribbean's modern fleet of nine ships, including the 2,354- passenger Majesty of the Seas introduced on April 26, 1992, offers more than 40 itineraries featuring a wide range of cruise lengths and calls at 100 destinations throughout the Caribbean, Bermuda, Bahamas, Panama Canal, Mexico, Alaska, South America, Europe, Scandinavia, Russia, the Mediterranean, Africa and the Canary Islands.
 -0- 5/20/92
 /CONTACT: Lloyd Axelrod or Rich Steck of Royal Caribbean Cruises, Ltd., 305-539-6573/ CO: Royal Caribbean Cruises Ltd. ST: Florida IN: LEI SU: OFR


JB-AW -- FL003 -- 2173 05/20/92 08:07 EDT
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Publication:PR Newswire
Date:May 20, 1992
Words:258
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