Thomas Foods
San Diego

Carnival Announces Offering of $1.25 Billion for Refinancing

Carnival Corporation today announced that Carnival Holdings (Bermuda), a subsidiary of Carnival Corporation, has commenced a private offering of $1.25 billion aggregate principal amount of Senior Priority Notes due 2028, according to a press release.

The Senior Priority Notes will be fully and unconditionally guaranteed on an unsecured basis, jointly and severally, by the Company, Carnival plc and certain of the Company’s and Carnival plc’s subsidiaries that guarantee substantially all of the Company’s other indebtedness.

In connection with the offering of the Senior Priority Notes, the Company and its subsidiaries will contribute 12 unencumbered vessels to the Issuer, with each of these vessels continuing to be operated under one of the Company’s, Carnival plc’s or one of their subsidiaries’ brands, the company said.

The Company expects to use the net proceeds of the offering to make principal payments on debt and for general corporate purposes. The Company may use all or a portion of the net proceeds to temporarily repay amounts outstanding under the Company’s revolver.

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