Seatrade Cruise News is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Carnival prices $2.4bn 4% senior notes to refinance higher interest debt

CRUISE_Carnival_Corp._logo.jpg
Carnival Corp. & plc priced a private offering of $2.4bn 4% first-priority senior secured notes due 2028.

The company plans to use the net proceeds to fund its previously announced tender offer to purchase up to $2bn 11.5% first priority senior secured notes due 2023.

$135m of interest savings annually.

The new notes' 4% interest rate will replace existing debt carrying an 11.5% coupon and generate $135m of interest savings annually.

The notes are being offered only to institutional buyers outside the US, and the offering is expected to close on July 26.

PJT Partners is serving as independent financial advisor to Carnival.

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish