Alt Text!

Royal Caribbean reportedly working with Morgan Stanley to raise new financing

In:
23Apr2020
By: 
Matt Hochberg

Royal Caribbean Cruises Ltd is reportedly in talks with Morgan Stanley to raise new financing to help buoy the company's financial situation during the current cruise shutdown.

Bloomberg cited "people with knowledge of the matter" and said possible options include as much as $600 million of bonds in a possible offering.

Royal Caribbean also has considered selling convertible bonds and equity, but nothing has been decided on yet

Representatives for Royal Caribbean and Morgan Stanley declined to comment to Bloomberg about any deal.

Royal Caribbean has taken advantage of $3.48 billion in backup financing between two revolving lines of credit.

Royal Caribbean has not offered cruises since mid-March, and is in the midst of a global suspension of cruises that extends through June 11 at the moment. The cruise line also cut 26% of its employees last week.