Carnival Corp. Announces Closing of 5.75% Convertible Senior Notes due 2023

Carnival Corp. Logo

Carnival Corporation today announced that it has closed its private offering to qualified institutional buyers of $1.95 billion aggregate principal amount of 5.75% convertible senior notes due 2023, including $200 million aggregate principal amount of the Convertible Notes sold pursuant to the partial exercise by the initial purchasers of their option to purchase additional Convertible Notes.

The Corporation has granted the initial purchasers of the Convertible Notes an option to purchase on or before April 18, 2020, up to an additional $62.5 million aggregate principal amount of Convertible Notes, after giving effect to the partial exercise of the option described above, according to a statement.

The Corporation expects to use the net proceeds from the offering for general corporate purposes.

The Corporation also announced today by separate press release that it has closed its previously announced registered public offering of 71,875,000 shares of common stock of the Corporation at a price of $8.00 per share (including 9,375,000 shares of common stock of the Corporation sold pursuant to the full exercise by the underwriters of their option to purchase additional shares). The closing of the Corporation's previously announced private offering to eligible purchasers of $4 billion aggregate principal amount of 11.500% first-priority senior secured notes due 2023 is expected to take place on April 8, 2020, subject to customary closing conditions.

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