Royal Caribbean Group, the world’s second largest cruise shipping company, has priced its convertible note and equity offerings.

The company said it has priced its private offering of $500 million aggregate principal amount Convertible Senior Notes due 2023 at 2.875%.

“The Company expects to use a portion of the net proceeds from the offering to repay its 2.650% Senior Notes due 2020, with the remainder to be used for general corporate purposes,” Royal Caribbean said.

It has also priced an underwritten public offering of 8,333,333 shares of common stock at $60.00 per share. Both the stock and note offerings, which were unveiled yesterday,  will close on 16 October, the company said.