Carnival Bulks Up Debt To Refinance 2023 Maturities

by Shivani Kumaresan, Benzinga Staff Writer

May 19, 2022 6:05 AM | 1 min read | Make a Comment

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 Read: Carnival 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.

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