On April 19, 2024, Carnival Corporation & plc announced the pricing of a private offering of €500 million in 5.75% senior unsecured notes due 2030, aimed at refinancing and reducing interest expenses. Concurrently, the company has secured commitments to reprice its senior secured term loan facilities maturing in 2027 and 2028. The proceeds from the notes offering, along with available cash, will be used to redeem €500 million 7.625% senior unsecured notes due 2026, leading to a nearly 2% reduction in interest expense. Additionally, Carnival Corporation plans to make partial prepayments of $500 million and $300 million on the 2028 and 2027 term loan facilities, respectively. These financial maneuvers are part of Carnival's ongoing efforts to reduce debt and interest expenses, which are expected to decrease net interest expense by over $30 million for the remainder...Show More

On April 19, 2024, Carnival Corporation & plc announced the pricing of a private offering of €500 million in 5.75% senior unsecured notes due 2030, aimed at refinancing and reducing interest expenses. Concurrently, the company has secured commitments to reprice its senior secured term loan facilities maturing in 2027 and 2028. The proceeds from the notes offering, along with available cash, will be used to redeem €500 million 7.625% senior unsecured notes due 2026, leading to a nearly 2% reduction in interest expense. Additionally, Carnival Corporation plans to make partial prepayments of $500 million and $300 million on the 2028 and 2027 term loan facilities, respectively. These financial maneuvers are part of Carnival's ongoing efforts to reduce debt and interest expenses, which are expected to decrease net interest expense by over $30 million for the remainder of 2024 and more than $50 million annually. The notes offering and loan repricing are scheduled to close on April 25, 2024, with the redemption of the 2026 notes set for April 26, 2024, contingent on the closing of the notes offering. The notes will be guaranteed by Carnival plc and certain subsidiaries, and will pay annual interest starting January 15, 2025. PJT Partners is acting as the independent financial advisor for these transactions.