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Carnival closes offering of 49.2m shares to convertible notes holders

CRUISE Carnival Corp. logo.jpg
Carnival Corp. & plc closed its previously announced registered direct offering of 49.2m shares of common stock at a $18.05 per share to a limited number of holders of its 5.75% convertible senior notes due 2023.

The company used the net proceeds to repurchase $427.9m of its convertible notes in privately negotiated transactions.

More to come

Carnival Corp. expects to close an additional 8.2m shares as part of the registered direct offering on Nov. 20 and intends to use the net proceeds to repurchase an additional $71.5m of its convertible notes in a privately negotiated transaction.

Following these notes repurchases, an aggregate $627.5m principal amount of convertible notes will remain outstanding.

Placement agent Goldman Sachs

Goldman Sachs acted as the exclusive placement agent.

PJT Partners LP served as independent financial advisor to Carnival for the registered direct offering.

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