Carnival Corporation & plc has announced the launch of a new senior unsecured notes offering, with the issuance of $1.25 billion in aggregate principal amount of notes expected to mature in 2029. The company intends to use the proceeds, along with cash on hand, to fully redeem its $2.0 billion 6.000% senior unsecured notes due 2029, with the aim of reducing interest expense. The indenture governing the new notes is expected to have investment grade-style covenants.
The notes will be offered to qualified institutional buyers under Rule 144A of the Securities Act of 1933 and to non-U.S. investors pursuant to Regulation S under the Securities Act. It's important to note that the notes will not be registered under the Securities Act or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
Carnival Corporation & plc is the largest global cruise company and among the largest leisure travel companies, with a portfolio of world-class cruise lines including AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, P&O Cruises, Princess Cruises, and Seabourn. As a result of these announcements, the company's shares have moved -3.98% on the market, and are now trading at a price of $29.40. If you want to know more, read the company's complete 8-K report here.
