Royal Caribbean Group today announced that it has commenced an underwritten public offering of $500 million of shares of common stock of the company and intends to grant the underwriters an option to purchase up to $75 million of additional shares, according to a press release.

Royal Caribbean said it expects to use the net proceeds from the offering for general corporate purposes.

The company also announced by a separate press release that it has commenced a private offering to eligible purchasers of $500 million aggregate principal amount of senior convertible notes due 2023 (or up to $575 million aggregate principal amount if the initial purchasers exercise in full their option to purchase additional convertible notes).