05:27 AM EDT, 07/30/2024 (MT Newswires) -- Royal Caribbean Cruises ( RCL ) said late Monday it priced a private placement to eligible purchasers of $2 billion principal amount of 6% senior unsecured notes due 2023.

The offering has been upsized from the previously set amount of $1.5 billion.

Net proceeds will be used to fund the redemption of 9.25% senior notes due 2029 and 8.25% senior secured notes due 2029, the company said.

The issuance of the notes is expected to occur on or around Aug. 12, subject to customary closing conditions.