The offering is expected to close on May 25.
The notes are callable beginning June 1, 2025.
They will be guaranteed by Carnival plc and certain subsidiaries that own or operate vessels and material intellectual property and that guarantee some of the company's other debt, including its first-priority secured debt and second-priority secured debt.
Use of proceeds
Net proceeds are expected to be used to make scheduled principal payments on debt during fiscal 2023 and for general corporate purposes including repaying debt and financing or refinancing a portion of the purchase price, rental payments, costs and expenses of current and future property, plant and equipment (including leased assets and vessels) and their maintenance, repair, replacement and improvements. Proceeds may also be used to pay for vessels' ready-for-sea costs.
The notes are being offered only to qualified institutional buyers outside the US.
PJT Partners is serving as independent financial advisor to Carnival Corp. & plc.