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  • Royal Caribbean Cruises Ltd RCL said it had received court approval to acquire the cruise ship Endeavor. 
  • Originally delivered to Crystal Cruises in 2021, the ship will be renamed Silver Endeavour when it officially joins the RCL’s subsidiary, Silversea Cruises’ fleet.
  • The purchase price for the vessel was $275 million. The vessel was fully financed through a 15-year unsecured term loan, guaranteed by the German export credit agency, Euler Hermes.
  • RCL expects the acquisition to be immediately accretive to earnings, cash flow, and ROIC. 
  • Silver Endeavour is scheduled to begin service in winter 2022/2023, spending its inaugural season in Antarctica starting November 2022.
  • Royal Caribbean held $1.96 billion in cash and equivalents as of March 31, 2022.
  • Price Action: RCL shares are trading higher by 7.84% at $35.33 on the last check Monday.
  • Photo Via Company

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