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Carnival Corporation & plc Announces Closing of €1.0 Billion 4.125% Senior Unsecured Notes Offering
Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) today announced that Carnival plc (the "Company") has closed its previously announced private offering (the "Notes Offering") of €1.0 billion aggregate principal amount of 4.125% senior unsecured notes due 2031 (the "Notes"). The Company will use the proceeds from the Notes Offering to fully repay the borrowings under Carnival Corporation's first-priority senior secured term loan facility maturing in 2027 (the "2027 Term Loan Facility") and t
About this update from Carnival Corporation Ltd.
[{"type":"text","content":"Proceeds from the offering of senior unsecured notes to be used to repay borrowings under senior secured term loan facilities","length":125,"tagName":"p"},{"type":"text","content":"MIAMI, July 7, 2025 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) today announced that Carnival plc (the "Company") has closed its previously announced private offering (the "Notes Offering") of €1.0 billion aggregate principal amount of 4.125% senior unsecured notes due 2031 (the "Notes"). The Company will use the proceeds from the Notes Offering to fully repay the borrowings under Carnival Corporation's first-priority senior secured term loan facility maturing in 2027 (the "2027 Term Loan Facility") and to repay a portion of the borrowings under Carnival Corporation's first-priority senior secured term loan facility maturing in 2028. In conjunction with the Company's prepayment of $450.0 million on June 27, 2025 towards the 2027 Term Loan Facility, this transaction builds on its continuing efforts to deleverage, reduce interest expense, simplify its capital structure and manage its maturity profile. In addition, the indenture that governs the Notes has investment grade-style covenants.","length":1087,"tagName":"p"},{"type":"text","content":""We continue to opportunistically access the capital markets," said David Bernstein, Chief Financial Officer. "We are just one notch away from an investment grade credit rating and this successful transaction puts us further down that path."","length":271,"tagName":"p"},{"type":"text","content":"The Notes will pay interest annually on July 15 of each year, beginning on July 15, 2026, at a rate of 4.125% per year. The Notes will be unsecured and will mature on July 15, 2031. The Notes will be fully and unconditionally guaranteed on a senior unsecured basis, jointly and severally, by Carnival Corporation and certain of the Company's and Carnival Corporation's subsidiaries that also guarantee certain of our first-priority secured indebtedness, certain of our other unsecured notes and our convertible notes.","length":525,"tagName":"p"},{"type":"text","content":"The Notes were offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securi...