Carnival Corp. Announces Pricing of $1.0 Billion Senior Unsecured Notes

Carnival Corp. Logo

Carnival Corporation has announced that Carnival Corporation has priced the private offering of $1.0 billion aggregate principal amount of 10.5% senior unsecured notes due.

The offering of the Senior Unsecured Notes is expected to close on May 25, 2022, subject to customary closing conditions.

The Senior Unsecured Notes will pay interest semi-annually on June 1 and December 1 of each year, beginning on December 1, 2022, at a rate of 10.5% per year and are callable beginning June 1, 2025. The Senior Unsecured Notes will be unsecured and will mature on June 1, 2030.

The Senior Unsecured Notes will be fully and unconditionally guaranteed on an unsecured basis, jointly and severally, by Carnival plc and certain of the company's and Carnival plc's subsidiaries that own or operate vessels and material intellectual property and that guarantee certain of the Company's other indebtedness, including its first-priority secured indebtedness and second-priority secured indebtedness.

The Company expects to use the net proceeds of the offering to make scheduled principal payments on debt during fiscal 2023 and for general corporate purposes, including, without limitation, making repayments of its indebtedness, the financing or refinancing of a portion of the purchase price, rental payments, costs and expenses related to certain of its current and future property, plant and equipment (including leased assets and vessels) and their maintenance, repair, replacement and improvements, as well as any other payments related to its vessels' ready-for-sea costs, in each case to the extent such amounts are not covered by the company's existing and future export credit facilities.

Cruise Industry News Email Alerts

 

 

Email Newsletter

Get the latest breaking cruise news. Sign up.

Cruise Ship Orderbook

72 Ships | 162,750 Berths | $46 Billion | View

New 2022 Annual Report

Cruise Industry News Annual Report

Highlights:

100% Overview

Capacity Data

Through 2027

Regional Data

Brand by Brand

Order Today

2022 Expedition Report

2022 Expedition Market Report Cover

Highlights:

Mkt. Overview

Supply Data

All Operators

190+ Pages

PDF Download

Order Today