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    Royal Caribbean Cruises Ltd. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Regulation FD Disclosure, Financial Statements and Exhibits

    5/15/25 5:13:46 PM ET
    $RCL
    Marine Transportation
    Consumer Discretionary
    Get the next $RCL alert in real time by email
    false 0000884887 0000884887 2025-05-14 2025-05-14 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

     

     

     

    UNITED STATES
    SECURITIES AND EXCHANGE COMMISSION

    WASHINGTON, D.C. 20549 

     

    FORM 8-K

     

    CURRENT REPORT

    Pursuant To Section 13 or 15(d) of The Securities Exchange Act of 1934

     

    Date of Report (Date of earliest event reported): May 14, 2025

     

     

    ROYAL CARIBBEAN CRUISES LTD.

     
      (Exact Name of Registrant as Specified in Charter)  
         
     

    Republic of Liberia

     
      (State or Other Jurisdiction of Incorporation)  

     

    1-11884   98-0081645

    (Commission File Number)

     

    (IRS Employer Identification No.)

             

    1050 Caribbean Way,
    Miami
    , Florida

      33132

    (Address of Principal Executive Offices)

     

    (Zip Code)

     

    Registrant's telephone number, including area code: 305-539-6000

     

     

    Not Applicable 

     
      (Former Name or Former Address, if Changed Since Last Report)  

     

    Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

     

    ¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
       
    ¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
       
    ¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
       
    ¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

     

    Securities registered pursuant to Section 12(b) of the Act:

     

    Title of each class  

    Trading Symbol(s)

     

    Name of each exchange on which registered

    Common stock, par value $0.01 per share   RCL   New York Stock Exchange

     

    Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

     

    Emerging growth company         ¨

     

    If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.        ¨

     

     

     

     

    Item 1.01Entry into a Material Definitive Agreement.

     

    On May 14, 2025, Royal Caribbean Cruises Ltd. (the “Company”) entered into amendments (collectively, the “Amendments”) to the Company’s unsecured revolving credit facilities, due October 2026 and October 2028 (collectively, the “Revolving Credit Facilities”).

     

    The Amendments, among other things:

     

    ·increase revolving credit commitments in each Revolving Credit Facility by $1.14 billion, resulting in aggregate credit commitments of $6.35 billion; and

    ·extend the termination date of one of the Revolving Credit Facilities from October 2026 to October 2030 while maintaining the October 2028 termination date for the other Revolving Credit Facility.

     

    The Amendments also provide the Company with the ability to increase from time to time the aggregate capacity of the facilities to an amount (including all existing advances and commitments under the Revolving Credit Facilities) up to $8.35 billion under certain conditions, including the receipt of additional or increased lender commitments.

     

    The amended Revolving Credit Facilities contain conditions, covenants, representations and warranties and events of default (with customary grace periods, as applicable) substantially similar to the conditions, covenants, representations and warranties and events of default that existed prior to their respective Amendment.

     

    Certain of the lenders participating in the amended Revolving Credit Facilities, and affiliates of those parties, provide banking, investment banking and other financial services to the Company from time to time for which they have received, and will in the future receive, customary fees.

     

    The foregoing description of the provisions of the Amendments is summary in nature and is qualified in its entirety by reference to the full and complete terms of the Amendments, which are filed herewith as Exhibit 10.1 and Exhibit 10.2.

     

    Item 2.03Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

     

    The disclosure required by this item is included in Item 1.01 of this Current Report on Form 8-K and is incorporated herein by reference.

     

    Item 7.01Regulation FD Disclosure

     

    On May 14, 2025, the Company issued a press release regarding the execution of the Amendments. A copy of the press release is furnished hereto as Exhibit 99.1.

     

    Item 9.01Financial Statements and Exhibits

     

    (d)  Exhibits

     

    Exhibit
    No.
      Description
    10.1   Amended and Restated Credit Agreement, dated May 14, 2025, by and among the Company, the various financial institutions as are or shall be parties thereto and JPMorgan Chase Bank, N.A., as administrative agent for the lender parties
    10.2   Amended and Restated Credit Agreement, dated May 14, 2025, by and among the Company, the various financial institutions as are or shall be parties thereto and JPMorgan Chase Bank, N.A., as administrative agent for the lender parties
    99.1   Press release dated May 14, 2025
    104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

     

     

    SIGNATURES

     

    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

     

      ROYAL CARIBBEAN CRUISES LTD.
       
    Date: May 15, 2025 By: /s/ Naftali Holtz
      Name: Naftali Holtz
      Title: Chief Financial Officer

     

     

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