Carnival Corporation Announces Redemption of $1.0 Billion Senior Unsecured Notes due 2030 and Launch of New Notes Offering

Carnival Corporation & plc, a prominent global cruise company, recently disclosed its initiation of a private offering of new senior unsecured notes amounting to $1.0 billion, expected to mature in 2030. The purpose of this offering is to refinance the existing $1.0 billion 10.500% senior unsecured notes due 2030. The company aims to reduce its interest expenses through this refinancing strategy.

The offering involves the redemption of the entire outstanding principal amount of the 2030 Unsecured Notes. A conditional notice of redemption has been issued for these notes, indicating a plan for redemption on February 28, 2025, at a price equivalent to 100.0% of the principal amount of the 2030 Unsecured Notes to be redeemed, alongside an applicable ‘make-whole’ premium and accrued interest prior to the redemption date. The redemption is contingent upon the successful closing of the Notes Offering.

The press release also emphasized that neither the current report nor the announcement constitutes an official notice of redemption pertaining to the 2030 Unsecured Notes. It was stated that forward-looking statements can be found in the attached press release, and caution should be exercised accordingly.

Carnival Corporation & plc will offer the new Notes primarily to qualified institutional buyers under Rule 144A of the Securities Act of 1933 and to non-U.S. investors under Regulation S outside the United States. It is essential to note that these Notes will not be registered under the Securities Act or any state securities laws.

The redemption of the 2030 Unsecured Notes is expected to be funded through the proceeds from the Notes Offering and existing cash resources. The company intends to adopt investment grade-style covenants within the governing indenture of the new Notes, aiming to enhance its financial structure.

Carnival Corporation & plc highlighted the importance of this financial move in reducing interest costs and optimizing its financial position in the current market scenario. Investors and stakeholders are advised to refer to the complete Form 8-K filing and accompanying press release for detailed information about the transaction.

For additional details, interested parties can access the official press release dated February 18, 2025, in Attachment 99.1 of the Form 8-K filing.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Carnival Co. &’s 8K filing here.

About Carnival Co. &

Carnival Plc operates as a global cruise and vacation company. The firm offers holiday and vacation products to a customer base that is broadly varied in terms of cultures, languages and leisure-time preferences. It operates through the North America and Australia (NAA), Europe and Asia (EA), Cruise Support, and Tour and Other segments.