The new facility will bear interest at an annual rate equal to adjusted LIBOR with a 0.75% floor, plus a margin equal to 3.25% and will mature in 2028.
Annual interest savings of $135m
This refinancing will generate annual interest savings of over $135m and extend maturities.
Carnival Corp. also issued a conditional notice of redemption for the entire outstanding principal amount of its 2023 notes.
JPMorgan Chase Bank, NA acted as sole global coordinator for the marketing of the term loan facility. PJT Partners is serving as independent financial advisor to Carnival Corp.