Royal Caribbean Group, the world’s second largest cruise shipping group, said it had increased a private offering of senior unsecured notes due in 2028 to $1.5 billion from $1.25 billion due to strong demand.

It also said it had priced the notes at 5.50%.

“The Company intends to use the proceeds from the sale of the Notes to repay principal payments on debt maturing or required to be paid in 2021 and 2022, and the remaining for general corporate purposes (including to pay fees and expenses in connection with such repayments),” it said in a statement.

Photo: Silver Moon of Royal Caribbean Group member Silversea Cruises