Royal Caribbean Group today announced that it has commenced a private offering of $1,000,000,000 aggregate principal amount of senior unsecured notes due 2027 according to a press release.

The Company intends to use the proceeds from the sale of the Notes to repay principal payments on debt maturing in 2022 and/or 2023 (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, according to a statement.