The new 2024 notes have the same initial conversion price as the 2023 notes, representing no dilution to shareholders at scheduled maturity and no upfront cost to the company.
18-month extension
As a result of the 18-month extension, the new 2024 notes will mature on Oct. 1, 2024. They are fully and unconditionally guaranteed on a senior unsecured basis by Carnival plc and subsidiary guarantors.
The 2024 notes have the same terms as Carnival's outstanding $339m 5.75% convertible senior notes due 2024.
PJT Partners acted as independent financial advisor to Carnival.
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