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Carnival Corp Announces Upsizing and Pricing Notes
Carnival Corp Announces Upsizing and Pricing Notes.
About this update from Carnival Plc
[{"type":"text","content":"\n \n Carnival Corporation & plc Announces Upsizing and Pricing of $2.0 Billion Senior Unsecured Notes due 2029, Funding Upcoming Debt Maturities\n MIAMI, Oct. 19, 2021 -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) today announced that Carnival Corporation (the \"Company\") has priced the private offering of $2.0 billion aggregate principal amount of 6.000% senior unsecured notes due 2029 (the \"Senior Unsecured Notes\"). The aggregate principal amount of Senior Unsecured Notes to be issued was increased to $2.0 billion. The offering of the Senior Unsecured Notes is expected to close on November 2, 2021, subject to customary closing conditions.\n The Senior Unsecured Notes will pay interest semi-annually on May 1 and November 1 of each year, beginning on May 1, 2022, at a rate of 6.000% per year and are callable beginning November 1, 2024. The Senior Unsecured Notes will be unsecured and will mature on May 1, 2029.\n 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 our vessels and material intellectual property and that guarantee certain of the Company's first-priority secured indebtedness and second-priority secured indebtedness.\n The Company expects to use the net proceeds from the offering of the Senior Unsecured Notes to make scheduled principal payments on debt during 2022 and for general corporate purposes, including, without limitation, making repayments of our indebtedness, the financing or refinancing of a portion of the purchase price, rental payments, costs and expenses related to certain of our 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 our 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.\n The Senior Unsecured Notes are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the \"Securities Act\"), and outside the United States, only to non-U.S. investors pursuant to Regulatio...