Royal Caribbean continues with liquidity boost to sail through
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Royal Caribbean Cruises Ltd (NYSE:RCL) gained 2.75% on a volume of 20.69 million shares. The stocks around tourism or travel haven’t brought much of good information ever since COVID-19 rattled the U.S. economy and led to the tanking of share market. The Royal Caribbean, in its bid to swim out of this rough current of virus, is continuously boosting its liquidity. Recently, the company raised additional $2 billion through convertible and senior notes, which will mature on June 15, 2023.
Before this, the company on May 19 had completed senior secured notes offering of $3.3 billion. The company had estimated its cash burn within the monthly range of $250-$275 million with the operations suspended and cruise not sailing.
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