Carnival Corporation Launches $2 Billion Notes Offering for Debt Repayment and Partial Redemption of 2027 Unsecured Notes

Reuters
Jul 07
Carnival Corporation Launches $2 Billion Notes Offering for Debt Repayment and Partial Redemption of 2027 Unsecured Notes

Carnival Corporation & plc has announced the launch of a new senior unsecured notes offering amounting to $2.0 billion, set to mature in 2032. The proceeds from this private offering will be utilized to fully repay the borrowings under Carnival Corporation's senior secured term loan facility due in 2028, as part of the company's strategy to manage future debt maturities and reduce secured debt. Additionally, the company plans to use the remaining funds, along with cash on hand, to partially redeem $1.4 billion of its 5.750% senior unsecured notes due in 2027. This partial redemption is contingent upon the successful closing of the notes offering. The new notes are expected to include investment grade-style covenants.

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