Carnival Corporation & plc Announces Pricing of $2.0 Billion 6.125% Senior Unsecured Notes Offering for Refinancing and Interest Expense Reduction

Core Viewpoint - Carnival Corporation & plc has announced a private offering of $2.0 billion in senior unsecured notes at a 6.125% interest rate, intended to redeem$ 2.03 billion of higher-interest senior priority notes due in 2028, thereby reducing interest expenses and simplifying its capital structure [1][2]. Group 1: Notes Offering Details - The offering consists of $2.0 billion in senior unsecured notes due in 2033, with an interest rate of 6.125% [1][4]. - The expected closing date for the Notes Offering is February 7, 2025, which is also the date set for the redemption of the Senior Priority Notes, contingent upon the closing of the offering [3]. Group 2: Financial Impact - The transaction is projected to reduce the company's net annual interest expense by over$ 80 million [2]. - The new notes will feature investment grade-style covenants, enhancing the company's financial stability [2]. Group 3: Company Background - 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 [8].