Business
Carnival Corporation & plc Announces Offeri...
Carnival Corporation & plc Announces Offeri....
About this update from Carnival Plc
[{"type":"text","content":"\n \n Carnival Corporation & plc Announces Offering of $1.25 Billion Senior Priority Notes due 2028 to be Issued by Carnival Holdings (Bermuda) Limited for Refinancing\n MIAMI (October 18, 2022) -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) today announced that Carnival Holdings (Bermuda) Limited (the “Issuer”), a subsidiary of Carnival Corporation (the “Company”), has commenced a private offering of $1.25 billion aggregate principal amount of Senior Priority Notes due 2028 (the “Senior Priority Notes”).\n The Senior Priority Notes will be fully and unconditionally guaranteed on an unsecured basis, jointly and severally, by the Company, Carnival plc and certain of the Company’s and Carnival plc’s subsidiaries that guarantee substantially all of the Company’s other indebtedness.\n In connection with the offering of the Senior Priority Notes, the Company and its subsidiaries will contribute 12 unencumbered vessels with an aggregate net book value of approximately $8.2 billion (as of September 30, 2022) to the Issuer, with each of these vessels continuing to be operated under one of the Company’s, Carnival plc’s or one of their subsidiaries’ brands.\n The Company expects to use the net proceeds of the offering to make principal payments on debt and for general corporate purposes. The Company may use all or a portion of the net proceeds to temporarily repay amounts outstanding under the Company’s revolver.\n The Senior Priority Notes will be 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 Regulation S under the Securities Act.\n The Senior Priority Notes 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 is serving as independent financial advisor to Carnival Corporation & plc.\n This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Senior Priority Notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction i...