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Carnival closes $2.4bn 4% notes offering in an interest-saving refinancingCarnival closes $2.4bn 4% notes offering in an interest-saving refinancing

Carnival Corp. & plc closed its private offering of $2.4bn 4% first-priority senior secured notes due 2028.

Anne Kalosh, Editor, Seatrade Cruise News & Senior Associate Editor, Seatrade Cruise Review

July 26, 2021

1 Min Read
Credit: Seatrade Cruise News

Carnival will use the net proceeds to fund a previously announced tender offer to purchase up to $2bn of its 11.5% first-priority senior secured notes due 2023.

$135m of interest savings annually

The new notes' 4% interest rate will replace existing debt carrying an 11.5% coupon and stretch out maturities, generating $135m of interest savings annually.

The notes were offered only to institutional buyers outside the US.

PJT Partners is serving as independent financial advisor to Carnival.

Read more about:

Carnival Corp. & plc

About the Author

Anne Kalosh

Editor, Seatrade Cruise News & Senior Associate Editor, Seatrade Cruise Review

Anne Kalosh covers global stories, reporting both breaking and in-depth news on cruising's significant people, places, ships and trends. A sought-after expert on cruising, she has moderated conferences around the world, including the high-profile State of the Industry panel at Seatrade Cruise Global. She created and led the acclaimed itinerary-planning case study for Seatrade's cruise master classes held at Cambridge and Oxford universities. She has been the cruise columnist for AFAR.com, and her freelance stories have appeared in a wide range of publications, from The New York Times to The Miami Herald.

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