Why Royal Caribbean Cruise's Shares Jumped 18.6% on Monday
Shares of Royal Caribbean Cruises Ltd (NYSE: RCL) jumped as much as 23.1% in trading Monday after the company announced a new debt offering. Shares closed up 18.6% and gave a little hope that cruise lines will make it through the current downturn in consumer spending.
Early Monday, Royal Caribbean announced that it has entered into a $2.2 billion secured term loan facility for the next year. This will give the company a total of $3.6 billion of liquidity to weather the current downturn in the cruise business.
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Source Fool.com
