As Royal Caribbean Burns Through $250 Million a Month, It Seeks to Raise $1 Billion in Stock and Debt
Royal Caribbean (NYSE: RCL) continues to be storm-tossed by the coronavirus pandemic. Although its 2021 bookings continue to improve, the cruise ship operator is still burning through cash at a rate of $250 million to $290 million per month so it wants to raise $1 billion by issuing new stock and selling more debt.
In a new SEC filing Tuesday, Royal Caribbean says COVID-19 continues to have "a material negative impact on our financial condition and results of operations."
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Source Fool.com
