Convertibles Calendar: Royal Caribbean, Arbor Realty on tap

Aug. 1

ROYAL CARIBBEAN GROUP:

• $900 million three-year convertible notes

• $135 million greenshoe

• Coupon of 5.75% to 6.25% and initial conversion premium of 37.5% to 42.5%

• Non-callable

• Rule 144A

• Morgan Stanley & Co. LLC

• Repurchase a portion of the 2.875% convertible notes due Nov. 15, 2023 and 4.25% convertible notes due June 15, 2023

• Miami-based cruise line operator

Aug. 2

ARBOR REALTY TRUST INC.:

• $200 million three-year convertible notes

• $30 million greenshoe

• Coupon of 7% to 7.5% and initial conversion premium of 10% to 15%

• Non-callable

• Rule 144A

• J.P. Morgan Securities LLC and JMP Securities LLC

• Repurchase a portion of the 4.75% convertible notes due Nov. 1, 2022 for cash

• Uniondale, N.Y.-based real estate investment trust

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