TUI Cruises has returned to the bond market for the second time in six months with a €223.5m ($260m) unsecured bond offering.
The German cruise operator's five-year bond, which will carry a coupon of 6.5%, will be used to repay existing indebtedness.
Watson Farley & Williams, which has advised TUI Cruises on the financial arrangements related to the bond issue said the offering was "multiple times oversubscribed".
