Royal Caribbean Prices Public Offering
Royal Caribbean Cruises Ltd. has priced the public offering of 10,800,000 shares of its common stock at a price of $46 11/16 per share. Of the 10,800,000 shares offered, 10,000,000 shares are being sold by the company, and 800,000 shares are being sold by a selling shareholder. The company has granted to the underwriters of the offering an option to purchase up to an additional 1,620,000 shares of common stock to cover over-allotments. As previously announced, the company intends to use the net proceeds of the offering for general corporate purposes, including capital expenditures. The offering will be made to investors in the U.S. by managing underwriters Goldman, Sachs & Co., Merrill Lynch & Co., Banc of America Securities LLC, William Blair & Company, A.G.
Croatian Shipyard Delivers Oil Tanker To Doria Shipping
3.Maj Brodogradilište (MAJ), of Rijeka Croatia, delivered the first oil tanker of a series of four to Doria Shipping. In March, 1997 3.MAJ was contracted to build four 71,345-dwt oil tankers for $150 million. With the financing help of Merrill Lynch International of London, and the full support of the Croatian government, the company successfully in finalizing this order. Built for the transportation of crude oil and oil products, M/T Margara, has five pairs of cargo and one pair of slop tanks. Double sides were applied in fuel tanks, for the vessel's compliance with all international environmental requirements.