Business
Carnival Announces Pricing Shares of Common Stock
Carnival Announces Pricing Shares of Common Stock.
About this update from Carnival Plc
[{"type":"text","content":"\n \n Carnival Corporation & plc Announces Pricing of 62,500,000 Shares of Common Stock\n MIAMI, April 2, 2020 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK), the world's largest leisure travel company, today announced that Carnival Corporation (the \"Corporation\") has priced its underwritten public offering of 62,500,000 shares of common stock of the Corporation at a price of $8.00 per share. The aggregate amount of shares of common stock to be issued in the offering was decreased to approximately $500 million from the previously announced $1.25 billion. The offering is expected to close on April 6, 2020, subject to customary closing conditions. The Corporation has granted the underwriters an option to purchase up to 9,375,000 of additional shares, which option must be exercised on or before May 1, 2020. The Corporation expects to use the net proceeds from the offering for general corporate purposes.\n The Corporation also announced by separate press release that it has priced its previously announced private offerings to eligible purchasers of $4 billion aggregate principal amount of 11.500% first-priority senior secured notes due 2023 and $1.75 billion aggregate principal amount of 5.75% senior convertible notes due 2023. The aggregate principal amount of the senior secured notes to be issued was increased to $4 billion from the previously announced $3 billion. The net proceeds from the offering of senior secured notes will be deposited into a segregated escrow account, pending the releases in accordance with certain collateral perfection thresholds. 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 $262.5 million aggregate principal amount of convertible notes. Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy the senior secured notes or the convertible notes. The offering of convertible notes is expected to close on April 6, 2020, subject to customary closing conditions, and the offering of senior secured notes is expected to close on April 8, 2020, subject to customary closing conditions. None of the closings of the offerings of shares of common stock, senior secured notes or convertible notes is conditioned upon the closing of any of...