Royal Caribbean Group - RCL STOCK NEWS

Silversea's Silver Moon has successfully completed her sea trials from August 8 to August 20, 2020, in the Adriatic Sea. The ship, which carries a reduced crew of around 320 due to health protocols, is set for delivery on October 30, 2020. The trials included stability, noise, and vibration tests, with more than 1,000 skilled professionals contributing to the ship's construction. Silver Moon is the second addition to Silversea's ultra-luxury fleet this year, following Silver Origin in June, and will feature new experiences as part of its offerings.

Royal Caribbean Group (NYSE: RCL) announced a binding commitment for a $700 million term loan facility from Morgan Stanley, available until August 12, 2021. The loan will accrue interest at L + 3.75% and matures in 364 days. A subsidiary, RCI Holdings, will guarantee the loan. There is potential to increase the facility by an additional $300 million. The funds will be used for general corporate purposes. Financial advisory was provided by Perella Weinberg Partners and legal services by Skadden Arps.

Royal Caribbean Group (NYSE: RCL) reported a net loss of $(1.6) billion or $(7.83) per share for Q2 2020, a sharp decline from last year’s profit of $472.8 million. The losses are attributed to the COVID-19 pandemic, which led to the suspension of all cruise operations. The company implemented liquidity measures, including $1.0 billion in priority guaranteed notes and $1.15 billion in convertible notes, to ensure financial stability. While bookings for 2021 are trending well, the overall impact of COVID-19 on future results remains uncertain.

Royal Caribbean Group (NYSE: RCL) announced a conference call on August 10, 2020, at 10:00 a.m. EDT, to discuss its second quarter financial results and provide a business update. Investors can access the call online via the company's investor relations website or dial in at (877) 663-9606 (US/Canada) or (706) 758-4628 (international). A replay will be available for one month post-call. The company operates several cruise brands, including Royal Caribbean International and Celebrity Cruises, with a total of 63 ships and 16 on order as of the announcement date.

Royal Caribbean Cruises Ltd. has rebranded itself as Royal Caribbean Group, reflecting its growth and evolution over the past two decades. The new name is intended to be simpler, more modern, and descriptive of its status as a parent company. Alongside the rebranding, the company's logo has been updated to feature a more symmetrical design within a circle. Royal Caribbean Group encompasses several cruise line brands, including Royal Caribbean International and Celebrity Cruises, and operates 63 ships with an additional 16 on order as of July 10, 2020.

Royal Caribbean Group has appointed Dr. Calvin Johnson as Global Head, Public Health and Chief Medical Officer. He will oversee global health policies, manage public health initiatives, and collaborate with the Healthy Sail Panel to implement health protocols. Dr. Johnson brings extensive experience in public health, notably during infectious disease outbreaks, and his appointment signifies the company's commitment to elevating health standards for guests and crew. Richard Fain, CEO, emphasized the need for leading health protocols as the company prepares for service resumption.

Royal Caribbean Group announced the launch of Muster 2.0™, a new safety drill program aimed at enhancing guest safety and satisfaction. This innovative approach allows guests to access safety information through mobile devices and interactive stateroom TVs, promoting individual review and reducing the need for large gatherings. The program is compliant with international maritime law and was developed in collaboration with the Healthy Sail Panel. The new process is patented in the U.S. and will be licensed to other cruise operators, supporting industry-wide safety improvements.

Royal Caribbean Group (NYSE: RCL) has acquired the remaining shares of Silversea Cruises, completing full ownership after initially purchasing two-thirds in July 2018. The transaction involved issuing 5.2 million shares of RCL stock, equating to about 2.5% of the company's common stock. This move is expected to enhance Silversea's growth and leadership in ultra-luxury cruising, as highlighted by CEO Richard D. Fain. Key executives from Silversea will continue to lead the brand, contributing to its development under Royal Caribbean's broader resources.