Carnival Corporation & plc Announces the Redemption of Existing $993 Million 7.625% Senior Unsecured Notes due 2026 and Launch of New Senior Unsecured Notes Offering for Interest Expense Reduction

Core Viewpoint - Carnival Corporation & plc has initiated a private offering of new senior unsecured notes totaling $1.0 billion, aimed at refinancing existing debt and reducing interest expenses while managing future debt maturities [1][2]. Group 1: Notes Offering Details - The new notes are expected to mature in 2031 and will replace the existing $993 million 7.625% senior unsecured notes due in 2026 [1]. - The company plans to use the net proceeds from the notes offering to fund the redemption of the 2026 Unsecured Notes, which is set to occur on or about May 22, 2025 [2]. - The indenture governing the new notes is anticipated to include investment grade-style covenants [1]. Group 2: Redemption Process - A conditional notice of redemption has been issued for the entire outstanding principal amount of the 2026 Unsecured Notes, with the redemption price set at 100% of the principal plus accrued interest [2]. - The redemption is contingent upon the successful closing of the notes offering [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].