Seatrade Cruise News is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

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

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

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.

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish