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 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].