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Carnival Corp. Announces Closing of Convertible...
Carnival Corp. Announces Closing of Convertible....
About this update from Carnival Plc
[{"type":"text","content":"\n \n \n \n Carnival Corporation & plc Announces Closing of Convertible Notes Exchange, Extending Maturity of $87 Million of Convertible Notes at Existing 5.75% Rate\n \n The 2023 Notes were exchanged for 2024 Notes with the same coupon and no dilution to shareholders at scheduled maturity versus the 2023 Notes and no upfront cost\n MIAMI, Nov. 2, 2022 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) today announced that Carnival Corporation (the \"Company\") has closed its previously announced exchange of approximately $87 million in aggregate principal amount of the Company's outstanding 5.75% Convertible Senior Notes due 2023 (the \"2023 Notes\") for $87 million in aggregate principal amount of the Company's new 5.75% Convertible Senior Notes due 2024 (the \"2024 Notes\").\n The 2024 Notes have the same initial conversion price as the 2023 Notes, representing no dilution to shareholders at scheduled maturity versus the 2023 Notes, the same coupon and no upfront cost to the Company. As a result of the eighteen-month extension, the 2024 Notes will mature on October 1, 2024 and are fully and unconditionally guaranteed on a senior unsecured basis by Carnival plc and certain of the Company's and Carnival plc's subsidiaries that guarantee substantially all of the Company's indebtedness.\n The 2024 Notes were issued pursuant to the Company's Indenture, dated August 22, 2022, have the same terms as the Company's outstanding $339 million aggregate principal amount of 5.75% Convertible Senior Notes due 2024 (the \"Existing 2024 Notes\") and are treated as a single class of securities trading under the same CUSIP number as the Existing 2024 Notes. The 2024 Notes were offered pursuant to an exemption from the registration requirements under the Securities Act of 1933, as amended (the \"Securities Act\"). The 2024 Notes and the shares of common stock issuable upon conversion of the 2024 Notes, if any, will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.\n PJT Partners served as independent financial advisor to the Company and Carnival plc.\n This press release does not constitute an off...