Sponsored By

Carnival prices $2.4bn 4% senior notes to refinance higher interest debtCarnival prices $2.4bn 4% senior notes to refinance higher interest debt

Carnival Corp. & plc priced a 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 21, 2021

1 Min Read
Credit: Seatrade Cruise News

The company plans to use the net proceeds to fund its previously announced tender offer to purchase up to $2bn 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 generate $135m of interest savings annually.

The notes are being offered only to institutional buyers outside the US, and the offering is expected to close on July 26.

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.

The latest cruise news, analysis and more straight to your inbox
Get the free newsletter read by industry experts

You May Also Like