Royal Caribbean Group, the world’s second largest cruise shipping group, said announced that it has commenced an underwritten public offering of $1.5 billion of shares of common stock. The company expects to use the net proceeds from the offering for general corporate purposes.

The previous time the company tapped the markets was in mid-October 2020, when it raised $500 million by offering 2.875% convertible notes.

These can be converted to shares in the company at a price of $60 per share. The notes will mature in 15 November 2023.

Photo: Celebrity Apex of Celebrity Cruises