Carnival Corporation & plc has announced the launch of a new senior unsecured notes offering, with an aggregate principal amount of $1.25 billion and expected maturity 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, after the closing of the notes offering, to reduce interest expense. The notes will be governed by an indenture with investment grade-style covenants.
The offering is aimed at qualified institutional buyers under Rule 144A of the Securities Act of 1933 and 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 without registration or an applicable exemption.
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 -2.3% on the market, and are now trading at a price of $28.7235. Check out the company's full 8-K submission here.
