Carnival Corporation & plc Announces Pricing of $1.0 Billion 5.750% Senior Unsecured Notes Offering for Refinancing and Interest Expense Reduction

Core Viewpoint - Carnival Corporation & plc is executing a private offering of $1.0 billion in 5.750$1.0 billion 10.500% senior unsecured notes due 2030, aiming to reduce interest expenses by approximately $45 million annually [1][2]. Group 1: Notes Offering Details - The Notes Offering is priced at$1.0 billion with a maturity date of March 15, 2030, and will pay interest semi-annually starting September 15, 2025 [1][4]. - The transaction is expected to close on February 28, 2025, and the redemption of the existing notes is contingent upon the closing of the Notes Offering [3]. Group 2: Financial Strategy - The company aims to lower its net annual interest expense by approximately $45 million through this transaction, which is part of a broader strategy to manage and reduce interest costs [2]. - The indenture governing the new notes will include investment grade-style covenants, indicating a focus on maintaining financial stability [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 [8].