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Carnival term loans repricing to save $18m/year in interestCarnival term loans repricing to save $18m/year in interest

Loan facilities due in 2027 and 2028 were repriced.

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

January 13, 2025

1 Min Read
LOGO: CARNIVAL CORP. & PLC

Carnival Corp. & plc expects to save approximately $18m in annualized interest expense after closing its repricing of a series of loans.

These include approximately $700m of term loans under the company's first-priority senior secured term loan facility maturing in 2027 and approximately $1.75b of term loans under its first-priority senior secured term loan facility maturing in 2028.

New rates

The 2027 repriced loans and the 2028 repriced loans bear interest at a rate per annum equal to SOFR with a 0.75% floor, plus a margin equal to 2%.

JP Morgan acted as lead arranger, joint bookrunner and sole global coordinator for the marketing of the term loans.

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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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