Royal Caribbean Group, the world’s second largest cruise shipping group, said  it has priced its private offering of $1,000,000,000 aggregate principal amount of 5.375% senior unsecured notes due 2027. 

“The aggregate principal amount of Notes to be issued was increased to $1.0 billion. The Notes will mature on July 15, 2027. The Notes are expected to be issued on or around January 7, 2022, subject to customary closing conditions,” it said in a statement.

The amount was increased to $1,.0 billion from an originally planned $700 million.

The company intends to use the proceeds from the sale of the Notes to repay principal payments on debt maturing in 2022, including to pay fees and expenses in connection with such repayments. "Pending such uses, the Company may temporarily apply the proceeds to repay borrowings under its revolving credit facilities or other borrowings,” Royal Caribbean Group said.