By: Yahoo Finance
(13-05-2001)

MIAMI /PRNewswire/ -- Royal Caribbean Cruises Ltd. (NYSE: RCL; Oslo) announced today the pricing of a $300 million gross proceeds 20-year zero-coupon convertible offering. The notes are convertible into Royal Caribbean common stock if the market price of the shares reaches specified thresholds. Each note has a yield to maturity of 4.75 percent and is convertible into 15.6675 shares of Royal Caribbean common stock. The lead underwriter of the issue is Banc of America Securities LLC.

Net proceeds from this offering will be used by the company for general corporate purposes, including capital expenditures. The security is being offered as part of a shelf registration statement previously filed and declared effective with the Securities and Exchange Commission.

Copies of the prospectus relating to the offering can be obtained from Banc of America Securities LLC, 9 West 57th Street, 40th Floor, New York, New York 10019.

Royal Caribbean Cruises Ltd. is a global cruise vacation company that operates Royal Caribbean International, Celebrity Cruises, and Royal Celebrity Tours. Royal Caribbean International and Celebrity Cruises have a combined total of 21 ships in service and 8 under construction or on firm order. Royal Celebrity Tours operates cruise-tour vacations in Alaska utilizing the world's largest glass-domed railcars. Additional information can be found on www.royalcaribbean.com , www.celebritycruises.com or www.rclinvestor.com .