Core Viewpoint - Carnival Corporation has completed the redemption of approximately $322 million of its 5.750% senior unsecured notes due 2027, indicating a strong focus on improving its balance sheet and capital structure [1][2]. Group 1: Financial Actions - The redemption of the senior unsecured notes is part of the company's strategy to rebuild its investment-grade balance sheet and reduce interest expenses [2]. - The total amount redeemed was approximately $322 million, reflecting the company's proactive financial management [1]. Group 2: 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 including AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, P&O Cruises, Princess Cruises, and Seabourn [3].

Core Points - Cunard, a luxury cruise line, is launching a Labor Day Sale offering fares starting at $999 and up to $200 onboard credit for over 145 voyages from 2025 to 2027 [1][2] - The sale runs from August 21 to September 3, 2025, providing travelers with an opportunity to plan their journeys aboard Cunard's fleet [1][2] Group 1: Sale Details - The Labor Day Sale features itineraries on all four Cunard ships: Queen Mary 2, Queen Elizabeth, Queen Victoria, and Queen Anne [2][3] - Highlighted voyages include Queen Mary 2's first-ever transit through the Panama Canal and Queen Elizabeth's Caribbean sailings starting in October 2025 [3][6] Group 2: Company Background - Cunard has been operating since 1840 and is celebrating 185 years in 2025, known for its luxury experiences and White Star Service [5][8] - The company currently operates four ships, with Queen Anne entering service in May 2024, and has plans for various voyages in 2025, 2026, and 2027 [6][8] Group 3: Future Voyages - In 2026 and 2027, Cunard will offer World Voyages and shorter segments, with itineraries spanning multiple continents and durations of 108 to 117 nights [7]

Core Insights - Princess Cruises is launching an evolved version of the "Spellbound by Magic Castle" experience aboard the new Star Princess, enhancing the immersive entertainment offering at sea [1][2][5] Group 1: Experience Overview - The new Spellbound by Magic Castle experience pays homage to the golden age of magic, particularly honoring Richard Valentine Pitchford, known as Cardini, a master of sleight-of-hand [2] - The venue will feature uniquely themed spaces such as a whimsical ticketing booth, the Inner Circle, Cardini Bar, a backstage area, and the Peacock Theater, all designed to create a magical atmosphere [3] Group 2: Culinary Offerings - An exclusive cocktail menu will be introduced at the Cardini Bar, featuring handcrafted drinks that align with the magical theme, including innovative options like The Inner Circle and Cardini [4] Group 3: Accessibility and Pricing - The Spellbound experience will be accessible to all guests aboard Star Princess, with multiple showtimes each night. Admission is priced at $45 per guest, which includes two signature cocktails and a magic show [5] - Unlike the original concept, there will be no dinner service prior to the show, encouraging guests to dine at least two hours before their reservation [6] Group 4: Ship Features - Star Princess, currently under construction, will accommodate 4,300 guests and feature 30 distinct dining and bar venues, along with luxurious accommodations [7] - The ship will include over 1,500 balcony staterooms, providing guests with panoramic views, and notable venues like The Dome and The Princess Arena [8] Group 5: Inaugural Season - Star Princess will debut with an inaugural season featuring sailings to various destinations including the Mediterranean, Caribbean, Panama Canal, and Alaska, with bookings currently available [9]

Core Insights - The Star Princess, the second Sphere-Class ship from Princess Cruises, is set to debut on October 4, 2025, after successful sea trials [1][2] - The ship is designed to reduce emissions and is powered by liquefied natural gas (LNG), marking a significant advancement in environmental sustainability for the cruise industry [2][5] - Star Princess will feature 30 dining and bar venues, advanced entertainment options, and luxurious accommodations, catering to 4,300 guests [5][6] Company Overview - Princess Cruises is recognized as a leading cruise brand, known for delivering exceptional vacation experiences across various global destinations [8] - The company is part of Carnival Corporation & plc, which is publicly traded on NYSE and LSE [8] Technical Features - The vessel is equipped with two Azipod propulsion units for enhanced maneuverability and efficiency, along with four controllable pitch bow thrusters [3] - Star Princess has a gross tonnage of 177,800 tons and includes over 1,500 balcony staterooms for panoramic views [5][6] Inaugural Season - The inaugural season will include voyages to the Mediterranean, Caribbean, Panama Canal, and Alaska, with bookings currently available [7]

Core Insights - Princess Cruises announced its most expansive Alaska cruise and cruisetour season for 2027, featuring nearly 60 years of expertise in the region [1][10] - The season will include a fleet of eight ships and stays at five signature wilderness lodges, emphasizing immersive travel experiences [1][10] - The 2027 Alaska season opens for sale on August 12, 2025 [1] Cruise Highlights - The season will feature 187 departures across 17 unique itineraries from five homeports: Seattle, Vancouver (B.C.), Anchorage (Whittier), San Francisco, and Los Angeles [2] - Star Princess, a next-generation Sphere Class ship, will return for her second season in Alaska, offering 7-day Inside Passage cruises roundtrip from Seattle [2][3] - The cruise will include four glacier-viewing experiences: Glacier Bay National Park, Hubbard Glacier, College Fjord, and Endicott Arm & Dawes Glacier [5] Unique Experiences - Princess Cruises aims to bring guests closer to the local culture, wildlife, and glaciers, enhancing the overall travel experience [3] - The company offers 28 cruisetour itineraries that combine cruises with land adventures, including access to Denali National Park [7][10] - Exclusive booking offers include up to 40% off and free sailing for the 3rd and 4th guests on select sailings [10] Fleet and Itineraries - The fleet includes Star Princess, Coral Princess, Crown Princess, Discovery Princess, Emerald Princess, Island Princess, Royal Princess, and Ruby Princess [5][9] - The company will provide scenic and charming port calls, including Ketchikan, Juneau, Skagway, Haines, Sitka, Icy Strait Point, and Victoria, B.C. [5] - Extended adventures will be available with 9- and 10-day Inside Passage voyages [6] Company Background - Princess Cruises is recognized as the top cruise line in Alaska, having won the "Best Cruise Line in Alaska" award 21 times [10] - The company is part of Carnival Corporation & plc and is known for delivering dream vacations in sought-after destinations [8]

Core Insights - Princess Cruises is expanding its Makoto Ocean specialty sushi restaurant to Diamond Princess and Sapphire Princess, starting this Fall [1][4] - The restaurant features Edomae-style sushi by Chef Makoto Okuwa, known for its authentic flavors and modern presentation [2][3] - The expansion aims to enhance the dining experience for guests sailing to regions like Antarctica, Southeast Asia, and Japan [2][3] Company Overview - Princess Cruises is recognized as a leading cruise brand, offering dream vacations to millions in sought-after destinations with elite service [6] - The company is part of Carnival Corporation & plc, which is publicly traded [6] Culinary Experience - Chef Makoto Okuwa brings over 25 years of culinary expertise, offering a refined yet approachable dining experience [2][3] - The menu includes premium sushi and unique dishes like truffle salmon and snow crab temaki, along with handcrafted cocktails [4][5] - The restaurant accommodates 80 guests and charges $60 per person, included for those with the Princess Premier Package [5]

Core Points - Princess Cruises is hosting a special "Love Boat" themed cruise featuring original cast members and exclusive performances, scheduled for November 16-23, 2025 [1][2][4] - The cruise will include meet-and-greets with cast members, themed activities, and live performances by Charo, enhancing the nostalgic experience for fans [3][4] - An exclusive "Captain Package" is available, offering unique experiences such as a cocktail hour with the cast and commemorative merchandise [4] Company Overview - Princess Cruises is recognized as "The Love Boat," a brand that has become synonymous with cruising, offering vacations to millions in sought-after destinations [7] - The cruise line operates a fleet of 16 ships, providing personalized experiences and a range of activities, from world-class dining to entertainment [7] - The company is part of Carnival Corporation & plc, indicating its significant presence in the cruise industry [7]

Core Points - Carnival Corporation's vice president Vicky Rey has been appointed to the Champions 12.3 coalition, which aims to halve food waste and reduce food loss by 2030 as part of the UN Sustainable Development Goals [1][2] - Rey has over four decades of experience at Carnival Corporation and is recognized for building partnerships that create shared value and address local needs [2] - The company has implemented a meal donation program to distribute surplus meals to communities in Latin America, contributing to its strategy of reducing food waste by 44% per person in 2024 compared to 2019 levels [3][5] Group 1 - Vicky Rey's appointment to Champions 12.3 reflects her commitment to developing scalable solutions for food waste reduction [1][4] - The meal donation program is part of Carnival's Less Left Over strategy, which focuses on maximizing the use of safe, high-quality surplus food [3][5] - The company has surpassed its 2025 interim goal for food waste reduction a year early while maintaining high-quality dining experiences [3] Group 2 - Rey's leadership has fostered cross-sector partnerships that support effective surplus meal recovery and donation frameworks [5][6] - The Champions 12.3 coalition includes leaders from various sectors, aiming to create actionable frameworks for surplus meal donation [6] - Rey's role in the coalition will help expand the reach of these initiatives to more destinations globally [6]

Core Insights - Princess Cruises has updated its Premier and Plus packages to enhance guest experience, reflecting customer feedback for more dining options and shore excursion credits [1][3] Pricing Updates - The new pricing for the Premier Package is $100 per person per day, up from $90, while the Plus Package is now $65 per person per day, increased from $60 [2] - For the new Sphere class ships, the Premier Package is priced at $105 per person per day and the Plus Package at $70 per person per day [2] Package Enhancements - The Premier Package now includes a new shore excursion credit based on voyage length: $100 for 6–9 days, $200 for 10–20 days, and up to $300 for voyages of 21+ days [6] - The Plus Package has been enhanced to include two additional casual dining meals per voyage, totaling four [6] Removal of Features - To accommodate the new enhancements, certain features with lower usage, such as premium desserts and fitness classes, will be removed from the packages [4]

Core Viewpoint - Carnival Corporation has successfully closed a private offering of $3.0 billion in senior unsecured notes, which will be used to repay existing borrowings and redeem a portion of its unsecured notes due in 2027 [1][2][3]. Group 1: Financial Strategy - The proceeds from the notes offering will fully repay borrowings under the senior secured term loan facility maturing in 2028 and will also be used to redeem $2.4 billion of 5.750% senior unsecured notes due 2027 [2][3]. - The company has refinanced nearly $11 billion of debt and prepaid $1.1 billion of debt in the current year, significantly reducing its secured debt by nearly 70% since Q4 2021 [3]. Group 2: Notes Offering Details - The notes will pay interest semi-annually at a rate of 5.75% per year, starting February 1, 2026, and will mature on August 1, 2032 [4]. - The notes are unsecured and will be guaranteed on a senior unsecured basis by Carnival plc and certain subsidiaries [4]. Group 3: Redemption Information - A conditional notice of redemption for the $2.4 billion of 2027 Unsecured Notes has been issued, with the redemption scheduled for July 17, 2025 [3].