Convertibles Calendar: Royal Caribbean, Varex on tap

June 4 (post-close)

ROYAL CARIBBEAN CRUISES LTD.:

• $1 billion three-year convertible notes

• Greenshoe of $150 million

• Revised talk for a coupon of 4.25% to 4.5% and a fixed initial conversion premium of 25%; initial talk for a coupon of 5% to 5.5% and an initial conversion premium of 20% to 25%

• Rule 144A

• J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC

• Non-callable

• Proceeds for general corporate purposes

• Miami-based cruise ship operator

VAREX IMAGING CORP.:

• $150 million five-year convertible notes

• Greenshoe of $22.5 million

• Coupon of 3.5% to 4% and initial conversion premium of 25% to 30%

• Rule 144A

• Goldman Sachs & Co. LLC, BofA Securities Inc. and Wells Fargo Securities LLC

• Non-callable for three years then subject to a 130% hurdle

• Proceeds to cover the cost of the hedge transactions, to repay debt under its credit agreement and for general corporate purposes

• Salt Lake City-based designer and manufacturer of X-ray imaging components

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