Carnival Corporation & plc Announces the Redemption of Existing $2.03 Billion Senior Priority Notes and Launch of New Senior Unsecured Notes Offering for Interest Expense Reduction

Core Viewpoint - Carnival Corporation & plc has initiated a private offering of $2.0 billion in new senior unsecured notes to refinance existing debt, aiming to reduce interest expenses and simplify its capital structure [1][2]. Group 1: Notes Offering Details - The new senior unsecured notes are expected to mature in 2033 and will be used to refinance the$2.03 billion 10.375% senior priority notes due in 2028 [1]. - The company anticipates that the indenture governing the new notes will include investment grade-style covenants [1]. - The redemption of the existing senior priority notes is set for approximately February 7, 2025, at a price of 100% of the principal amount plus applicable premiums and interest [2]. Group 2: Funding and Conditions - The company plans to fund the redemption of the senior priority notes using net proceeds from the notes offering and available cash [2]. - The redemption is contingent upon the successful closing of the notes offering [2]. Group 3: Company Overview - Carnival Corporation & plc is recognized as the largest global cruise company and one of the largest leisure travel companies, operating a diverse portfolio of cruise lines [6].