Filed pursuant to Rule 433
Dated June 7, 2006
Registration No. 333-115090
ROYAL CARIBBEAN CRUISES LTD.
Pricing Term Sheet dated June 7, 2006
$550,000,000 7.00% Senior Notes due 2013
|
Issuer:
|
Royal Caribbean Cruises Ltd. | |||||
|
Size:
|
$550,000,000 | |||||
|
Maturity:
|
June 15, 2013 | |||||
|
Coupon (Interest
Rate):
|
7.00% | |||||
|
Yield to Maturity:
|
7.090% | |||||
|
Spread to Benchmark
Treasury:
|
2.10% (+ 210 basis points) | |||||
|
Benchmark Treasury:
|
3.625% May 15, 2013 | |||||
|
Benchmark Treasury Price and
Yield:
|
92-02 + ; 4.990% | |||||
|
Interest Payment
Dates:
|
June 15 and December 15, commencing December 15, 2006 | |||||
|
Day Count Convention:
|
30 / 360 | |||||
|
Price to Public:
|
99.509% | |||||
|
Settlement Date:
|
T + 3; June 12, 2006 | |||||
|
Denominations:
|
$1,000 x $1,000 | |||||
|
CUSIPS:
|
780153 AQ 5 | |||||
|
Joint Book-Running
Managers:
|
Underwriting | |||||
| Goldman, Sachs & Co. | $ | 275,000,000 | ||||
| Barclays Capital Inc. | $ | 55,000,000 | ||||
| BNP Paribas Securities Corp. | $ | 55,000,000 | ||||
| Greenwich Capital Markets, Inc. | $ | 55,000,000 | ||||
| Morgan Stanley & Co. Incorporated | $ | 55,000,000 | ||||
|
Co-Managers:
|
||||||
| DnB NOR Markets, Inc. | $ | 13,750,000 | ||||
| J.P. Morgan Securities Inc. | $ | 13,750,000 | ||||
| Morgan Keegan & Company, Inc. | $ | 13,750,000 | ||||
| Scotia Capital (USA) Inc. | $ | 13,750,000 | ||||
The issuer has filed a registration statement (including a
prospectus) with the SEC for the offering to which this
communication relates. Before you invest, you should read the
prospectus in that registration statement and other documents
the issuer has filed with the SEC for more complete information
about the issuer and this offering. You may get these documents
for free by visiting EDGAR on the SEC Web site at
www.sec.gov. Alternatively, the issuer, any underwriter
or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free
1-866-471-2526.
$350,000,000 7.250% Senior Notes due 2016
|
Issuer:
|
Royal Caribbean Cruises Ltd. | |||||
|
Size:
|
$350,000,000 | |||||
|
Maturity:
|
June 15, 2016 | |||||
|
Coupon (Interest
Rate):
|
7.250% | |||||
|
Yield to Maturity:
|
7.294% | |||||
|
Spread to Benchmark
Treasury:
|
2.27% (+227 basis points) | |||||
|
Benchmark Treasury:
|
5.125% May 15, 2016 | |||||
|
Benchmark Treasury Price and
Yield:
|
100-25; 5.024% | |||||
|
Interest Payment
Dates:
|
June 15 and December 15, commencing December 15, 2006 | |||||
|
Day Count Convention:
|
30 / 360 | |||||
|
Price to Public:
|
99.690% | |||||
|
Settlement Date:
|
T+ 3; June 12, 2006 | |||||
|
Denominations:
|
$1,000 x $1,000 | |||||
|
CUSIPS:
|
780153 AR 3 | |||||
|
Joint Book-Running
Managers:
|
Underwriting | |||||
| Goldman, Sachs & Co. | $ | 175,000,000 | ||||
| Barclays Capital Inc. | $ | 35,000,000 | ||||
| BNP Paribas Securities Corp. | $ | 35,000,000 | ||||
| Greenwich Capital Markets, Inc. | $ | 35,000,000 | ||||
| Morgan Stanley & Co. Incorporated | $ | 35,000,000 | ||||
|
Co-Managers:
|
||||||
| DnB NOR Markets, Inc. | $ | 8,750,000 | ||||
| J.P. Morgan Securities Inc. | $ | 8,750,000 | ||||
| Morgan Keegan & Company, Inc. | $ | 8,750,000 | ||||
| Scotia Capital (USA) Inc. | $ | 8,750,000 | ||||
The issuer has filed a registration statement (including a
prospectus) with the SEC for the offering to which this
communication relates. Before you invest, you should read the
prospectus in that registration statement and other documents
the issuer has filed with the SEC for more complete information
about the issuer and this offering. You may get these documents
for free by visiting EDGAR on the SEC Web site at
www.sec.gov. Alternatively, the issuer, any underwriter
or any dealer participating in the offering will arrange to send
you the prospectus if you request it by calling toll-free
1-866-471-2526.