"Ray Goldenberg" wrote in message
news:j68182hmko2hnlnbvm8og5fmkrebtnngqe@4ax.com...
> Hi Everyone,
>
> I received this press release from Royal Caribbean and thought it
> would be of interest. If you have missed any of my news' postings,
> they are available on my web site.
>
> Best regards,
> Ray
> LIGHTHOUSE TRAVEL
> 800-719-9917 or 805-566-3905
> http://www.lighthousetravel.com
>
>
> Royal Caribbean Calls LYONs for Redemption and Enters Into Stock
> Repurchase Agreement
>
> MIAMI, June 2
> Royal Caribbean Cruises Ltd. (NYSE: RCL; Oslo) announced today that it
> has called for the redemption of all of its outstanding Liquid Yield
> Option(TM) Notes due February 2, 2021 ("LYONs"). The redemption date
> is June 19, 2006. The redemption price is $494.62 per LYON. Notices of
> redemption are being mailed to holders of the LYONs today in
> accordance with the terms of the indenture.
>
> Additionally, today the Company entered into an agreement with Goldman
> Sachs & Co. to purchase approximately $165 million of its common stock
> pursuant to an accelerated share repurchase program. The minimum and
> maximum price at which the Company will purchase the shares, the
> minimum and maximum number of shares to be purchased and the dates of
> purchase of the shares will be determined within approximately eight
> days based on the price of the Company's shares of common stock on the
> NYSE during such period.
>
> 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 and five under construction. The
> company also offers unique land-tour vacations in Alaska, Canada and
> Europe through its cruise-tour division. Additional information can be
> obtained by contacting your travel professional.
Ray:
Please explain exactly what this transaction means.
What is a LYON?
What does it mean for RCC?
How does it affect the balance sheet?
How does it affect the shareholders?
Why do you post every press release no matter how esoteric when yhou have
absolutely no idea what it means?
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