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 indenture governing the new notes is anticipated to include investment grade-style covenants [1]. - The company plans to fund the redemption of the existing senior priority notes using proceeds from the notes offering and available cash [2]. Group 2: Redemption Process - Carnival Bermuda has issued a conditional notice of redemption for the entire outstanding principal amount of the senior priority notes, with a redemption date around February 7, 2025 [2]. - The redemption price will be 100% of the principal amount plus applicable premiums and accrued interest [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 portfolio of well-known cruise lines [6].

Company Overview - Carnival Corporation & plc operates as the largest global cruise company with a combined passenger capacity of 269,970 as of November 30, 2024, representing 100% of its total capacity[41]. - The North America and Australia segment accounts for 64% of Carnival's total passenger capacity, with Carnival Cruise Line being the largest brand at 33%[41]. - In 2024, Carnival Corporation & plc carried a total of 13,509 thousand passengers, an increase from 12,460 thousand in 2023, with significant contributions from the United States and Canada (7,938 thousand) and Continental Europe (2,702 thousand)[56]. Strategic Initiatives - The company plans to sunset the P&O Cruises (Australia) brand and integrate its operations into Carnival Cruise Line by March 2025[25]. - Carnival Corporation & plc aims to strengthen its balance sheet and deliver long-term shareholder value by driving revenue and generating record levels of cash from operations[34]. - The company has six cruise ships under contract for construction, with expected deliveries ranging from 2025 to 2033, including new builds for Carnival Cruise Line and Princess Cruises[43]. Sustainability Commitment - Carnival Corporation & plc is committed to sustainability, investing in technology upgrades and fleet improvements to reduce its environmental footprint[33]. - The company is committed to ethical sourcing and sustainability, with a Responsible and Sustainable Sourcing Policy to monitor compliance with its standards[76]. - The company has established sustainability goals for 2030, aligning with the United Nations Sustainable Development Goals, and has achieved several goals ahead of schedule[162]. Environmental Compliance - Carnival Corporation's ships are subject to various international maritime regulations, including SOLAS and MARPOL, which govern safety, environmental, and operational standards[108]. - The company adheres to ISO 14001 standards for environmental management, ensuring compliance with international environmental laws and regulations[122]. - Advanced Air Quality Systems are implemented on most ships, helping to mitigate financial impacts from ECAs and global sulfur requirements[131]. Financial Performance - The company’s passenger ticket revenues are seasonal, with the highest demand typically occurring in the third quarter, which includes the Northern Hemisphere summer months[62]. - In 2024, 34% of cruise revenues were generated from onboard and other revenue goods and services, including beverage packages, internet packages, and shore excursions[63]. - The company has increased marketing and advertising programs in 2024 to drive demand across its cruise lines, focusing on digital performance marketing and lead generation[69]. Operational Challenges - Climate change regulations and increasing global concern may materially impact the company's business operations and financial results, necessitating capital investments in new technologies and emission allowances[187]. - Supply chain disruptions may limit the availability of critical products and services, increasing operational costs[199]. - Fluctuations in fuel prices and availability could adversely affect operational costs and profitability, with potential increases in guest vacation costs[197]. Cybersecurity Measures - The company has not experienced any material cybersecurity incidents in the last three fiscal years, and expenses related to cybersecurity incidents were not material[213]. - The Chief Information Security Officer (CISO) oversees cybersecurity risk reduction and regulatory compliance, bringing over 20 years of experience[214]. - The company engages third-party advisory firms for cybersecurity assessments and requires service providers to comply with security and privacy requirements[212]. Future Developments - Celebration Key, a new exclusive cruise port destination, is under construction and expected to open in summer 2025, accommodating up to four cruise ships at once[67]. - The company plans to enhance Half Moon Cay, with a new pier expected to open in summer 2026, allowing two ships to dock simultaneously[66]. - The company is investing in a first-of-its-kind lithium-ion battery storage system and assessing carbon capture and storage technologies[164].

Event Overview - Princess Cruises is launching Love by Britto, a pop-up dining event combining art, romance, and culinary mastery, as a Valentine's Day experience in New York City [1][2] - The event will be hosted at Currents at Pier 59 on February 13 and 14, with one seating each night from 7-9:30 pm [3] - Priced at $214 per person, the event features a five-course menu, heart-inspired cocktails, and Romero Britto's iconic art [4][6] Event Highlights - The dining experience includes a Champagne Wall, specialty cocktails, and a floating video wall showcasing ocean views from Princess Cruises' ships [6] - The menu features creative, heart-shaped presentations such as Cappuccino of Wild Mushroom, Duet of Prime Beef & Wagyu, and Chocolate Lava Cake [6] - Vibrant dinnerware featuring Britto's art and heart-themed decor will adorn the candlelit tables [6] Expansion and Ship Details - Love by Britto first debuted on the Sun Princess and will soon open on the Star Princess, launching in Fall 2025 [7] - Both ships are part of the Sphere Class, featuring 30 restaurant and bar venues, celebrity collaborations, and high-end culinary experiences [7][8] - The Sun Princess and Star Princess are engineering marvels with 4,300-guest capacity and 178,000-ton weight, featuring architectural spectacles like The Dome and The Sphere [8] Company Background - Princess Cruises is a leading cruise brand offering dream vacations in sought-after destinations with elite service and personalized experiences [11] - The company operates a fleet of large ships with well-appointed staterooms, world-class dining, and award-winning entertainment [11] - Sun Princess, named Condé Nast Traveler's Mega Ship of the Year, introduces the Sphere Class platform, with Star Princess joining in Fall 2025 [11]

Broadway legend Sutton Foster performs onboard Cunard's newest ship, Queen Anne ahead of her engagement during Queen Elizabeth's 2025-2026  Miami homeportingVALENCIA, Calif., Jan. 21, 2025 /PRNewswire/ -- History was made today when Cunard celebrated Queen Anne's arrival in Miami for her maiden call, her second stop in North America since her launch in May 2024. The special day marked a proud moment for Cunard as they build towards welcoming Queen Elizabeth to Miami, with voyages to the Caribbean starting o ...

MIAMI, Jan. 13, 2025 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) today announced that Carnival Corporation (the "Company") has closed its repricing of approximately $700 million of term loans (such repriced loans, the "2027 Repriced Loans") under its first-priority senior secured term loan facility maturing in 2027 and approximately $1.75 billion of term loans (such repriced loans, the "2028 Repriced Loans") under its first-priority senior secured term loan facility maturing in 202 ...

Visitors to Cunard's Festival experience can enter to win a Caribbean voyage on Queen ElizabethVALENCIA, Calif., Jan. 13, 2025 /PRNewswire/ -- Luxury cruise line Cunard proudly announces its role as a platinum sponsor at this year's 24th annual South Beach Wine & Food Festival presented by Capital One (SOBEWFF®) in Miami, Florida from February 20-23, 2025.Attendees will be treated to Cunard's renowned culinary offerings, at the Goya Foods' Grand Tasting Village and the American Airlines® North Venue, with a ...

VALENCIA, Calif., Jan. 9, 2025 /PRNewswire/ -- Luxury cruise line Cunard kicks off the 2025 Wave season with two campaigns: "Treat yourself, on us" and "Enjoy it all."Returning in 2025, "Treat yourself, on us" is available on most voyages between June 2025 and March 2027 on Cunard's fleet – flagship Queen Mary 2, Queen Victoria, Queen Elizabeth, and the line's newest ship, Queen Anne. Cunard kicks off Wave season with “Treat yourself, on us” and “Enjoy it all" offers "Enjoy It all" is available on sel ...

Non-Alcoholic and Full of Flavor, New Menu Launches in March Offering Refreshing Alternative for Guests Who Want to Toast Unforgettable Moments at Sea – without the AlcoholAmore Princess Zero Alcohol Drinks Included in Princess Plus and Princess Premier Packages FT. LAUDERDALE, Fla., Jan. 7, 2025 /PRNewswire/ -- While the world embraces Dry January, Princess Cruises is already planning for mindful indulgence beyond the New Year with the March debut of the Amore Princess Zero Alcohol Collection. This curated ...

Guidance MIAMI (December 20, 2024) - Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) announced financial results for the fourth quarter and full year 2024 and provided an outlook for the first quarter and full year 2025. Key Highlights • Full year revenues hit an all-time high of $25 billion, over 15 percent higher than the prior year, with continued strength in demand. • Full year net income of $1.9 billion; adjusted net income of $1.9 billion outperforms September guidance by over $130 million. • Re ...

Sale Runs Through February 28, 2025FT. LAUDERDALE, Fla., Dec. 16, 2024 /PRNewswire/ -- Princess Cruises, the most iconic cruise brand in the world, today unveiled its Come Aboard Sale, offering fantastic savings on cruises across the globe. Now is the perfect time to plan a dream vacation with up to 40% off cruise fares, free room upgrades, $99 deposits, and free sailings for 3rd and 4th guests in the same stateroom.The Come Aboard Sale runs through February 28, 2025, and promises something for everyone, wi ...