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Carnival Corp. continues refinancing with $1.25b notes offering

A Carnival Corp. subsidiary commenced a private offering of $1.25b senior priority notes due 2028.

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

October 18, 2022

1 Min Read
Credit: Seatrade Cruise News

The subsidiary is Carnival Holdings (Bermuda) Limited.

The notes will be fully and unconditionally guaranteed on an unsecured basis, jointly and severally, by Carnival Corp., Carnival plc and certain other subsidiaries that guarantee substantially all of the company's other indebtedness.

In connection with the offering, Carnival and its subsidiaries will contribute 12 unencumbered vessels to the issuer, each continuing to be operated by Carnival. 

Use of proceeds

The company expects to use the net proceeds to make principal payments on debt and for general corporate purposes. Carnival may use all or a portion of the proceeds to temporarily repay amounts outstanding under its revolver.

The notes will be offered only to qualified institutional investors outside the US.

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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