The amount offered by Carnival Holdings (Bermuda) Limited was increased from $1.25b due to investor demand.
Use of proceeds
Carnival Corp. expects to initially use the net proceeds to repay amounts drawn under its revolving credit facility, which remains available for future principal payments on debt and for general corporate purposes.
The notes will be fully and unconditionally guaranteed on an unsecured basis, jointly and severally, by Carnival Corp., Carnival plc and certain other subsidiaries that guarantee substantially all of the company's other debt.
In connection with the offering, Carnival and its subsidiaries will contribute 12 unencumbered vessels to the issuer, each continuing to be operated by Carnival.
The notes are being offered only to qualified institutional investors outside the US.
Oct. 25 closing
The offering is expected to close on Oct. 25.
PJT Partners is serving as independent financial advisor to Carnival Corp. & plc.
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