Carnival Bulks Up Debt To Refinance 2023 Maturities

  • Carnival Corporation CCL has priced the private offering of $1.0 billion of 10.5% senior unsecured notes due 2030.
  • The company expects to close the offering on May 25, 2022.
  • The notes will pay interest semi-annually on June 1 and December 1 of each year, beginning on December 1, 2022, at a rate of 10.5% per year and are callable beginning June 1, 2025. The notes will be unsecured and will mature on June 1, 2030. 
  • Also ReadCarnival Names Josh Weinstein To Assume CEO Role
  • The company intends to use the net proceeds of the offering to make scheduled principal payments on debt during fiscal 2023 and for general corporate purposes.
  • Price Action: CCL shares are trading lower by 2.46% at $13.50 in premarket on Thursday.
Posted In: BriefsNewsOfferings