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Carnival Corp. closes equity offering and convertible notes repurchase

CRUISE Carnival Corp. logo.jpg
Carnival Corp. & plc closed its previously announced registered direct offering of 93,663,808 shares of common stock at $14.02 per share to a limited number of holders of its 5.75% convertible senior notes due 2023.

The company used the proceeds to repurchase $836.3m principal amount of its convertible notes in privately negotiated transactions.

Additional 5.5m shares to close Aug. 10

Carnival expects to close an additional 5.5m shares as part of the registered direct offering on Aug. 10. The proceeds from that closing will be used to repurchase an additional $49.3m principal amount of the company's convertible notes in a privately negotiated transaction.

Following these notes repurchases, $1.127bn principal amount of Carnival's convertible notes will remain outstanding.

Goldman Sachs acted as the exclusive placement agent for the registered direct offering. PJT Partners served as independent financial advisor to Carnival.

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