Royal Caribbean Group is offering $650m in unsecured notes in a bid to buy up debt tied to its planned acquisition of Silversea Cruises.

The Richard Fain-led cruiseship giant plans to put the money from the sale of the 2026 unsecured notes toward redeeming the $620m in senior secured notes issued by Silversea Cruise Finance.

The Silversea notes, which carry a 7.25%