Royal Caribbean Cruises announced in a press release the launch of a private offering of $1.5 billion in senior unsecured notes due in 2033.

According to a statement, the company plans to use the proceeds from this sale, along with borrowings from its revolving credit facilities, to redeem all of its outstanding 9.250 percent Senior Notes due 2029 and a portion of its 8.250 percent Senior Secured Notes due 2029. This includes covering the fees and expenses related to the redemption.

The Notes are being offered to qualified institutional buyers under Rule 144A of the Securities Act of 1933 and to certain non-U.S. persons under Regulation S. The Notes will not be registered under the Securities Act or any state securities laws and cannot be offered or sold in the U.S. without registration or an exemption from registration requirements.

The company emphasized that this announcement does not offer to sell or solicit to buy the Notes or any other securities, nor does it serve as a redemption notice for the company’s 9.250 percent or 8.250 percent Senior Notes due 2029.