Royal Caribbean Announces Intention to Try Hand at Financing Transactions

Royal Caribbean Cruises Ltd. has announced its intention to engage in a number of financial transactions.

The Company expects to call for redemption all of its outstanding Liquid Yield Option Notes due 2021 (“LYONS”). Because these notes are currently “out-of-the-money”, the Company expects that the LYONS will be redeemed at their accreted principal amount which, based on today´s value, approximates $543 million.

Royals also expects to call for redemption all of its outstanding

zero coupon convertible notes due 2021 (“Zeros”). Because these notes are currently “in-the-money”, the Company expects that the holders of the Zeros will exercise their right to convert them into shares of common stock of the Company prior to redemption.

The company also expects to implement a stock buy back program for approximately 4.1 million shares, which approximates the number of shares that the Company anticipates issuing in order to satisfy the Zeros holders´ conversion requests.

It will take some time to complete the implementation of these transactions. Depending upon market conditions, the Company expects completion by year end.

Royal Caribbean Cruises Ltd. is a global cruise vacation company that operates Royal Caribbean International and Celebrity Cruises, with a combined total of 29 ships in service and five on order.