The company expects to use the net proceeds to make scheduled principal payments on debt during 2021 and for general corporate purposes, including financing or refinancing a portion of the purchase price, rental payments, costs and expenses for current and future property, plant and equipment (including leased assets and vessels) and their repair, replacement and improvements, as well as any other payments related to vessels' ready-for-sea costs.
The notes were offered only to qualified institutional buyers outside the United States.
They will be fully guaranteed on an unsecured basis, jointly and severally, by Carnival plc and certain corporate and Carnival plc subsidiaries that own or operate vessels and material intellectual property and that guarantee certain first-priority secured debt and second-priority secured debt.
The offering is expected to close on Feb. 16.
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