The notes are being offered to qualified institutional buyers outside the United States.
Guarantors and security
The notes will be fully guaranteed by Carnival plc and certain subsidiaries that own or operate the company's ships and material intellectual property. Additionally, the notes and the guarantees will be secured by a second-priority lien on collateral, including pledges on the capital stock of each subsidiary guarantor, mortgages on a substantial majority of the vessels and related vessel collateral, material intellectual property and pledges over other vessel-related assets including inventory, trade receivables, computer software and casino equipment.
Carnival expects to use the net proceeds for general corporate purposes.
The offering is expected to close Aug. 18.