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Royal Caribbean Announces Commencement of Conversion Period for Zero Coupon Convertible Notes Due 2021
MIAMI, Jan. 3 /PRNewswire-FirstCall/ -- Royal Caribbean Cruises Ltd.
(NYSE: RCL; Oslo) today announced that the companys Zero Coupon Convertible
Notes due May 18, 2021 (the "Convertible Notes") are convertible, having
satisfied the market price condition as of Friday, December 30, 2005. Holders
may convert their Convertible Notes into shares of the companys common stock
at any time on or prior to 5:00 p.m. New York time on Friday, March 31, 2006.
Pursuant to the terms of the indenture under which the Convertible Notes were
issued in May 2001, the Convertible Notes are convertible at a rate of 15.6675
shares of common stock per $1,000 principal amount of Convertible Notes. Cash
will be paid in lieu of fractional shares. If all outstanding Convertible
Notes were surrendered for conversion, the aggregate number of shares of
common stock issued would be approximately 4.4 million.
Royal Caribbean Cruises Ltd. is a global cruise vacation company that
operates Royal Caribbean International and Celebrity Cruises, with a combined
total of 29 ships in service, two under construction and two on firm order.
The company also offers unique land-tour vacations in Alaska, Canada and
Europe through its cruise-tour division. Additional information can be found
on http://www.royalcaribbean.com , http://www.celebrity.com or
http://www.rclinvestor.com .
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