UPDATE: Carnival Upsizes Offerings Of US Dollar And Euro Notes

(Alliance News) - Carnival Corp said late Friday it has upsized its private offerings of ...

Alliance News 20 November, 2020 | 9:43PM
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(Alliance News) - Carnival Corp said late Friday it has upsized its private offerings of US-denominated and Euro-denominated senior unsecured notes due 2025.

The Miami-based cruise line operator will now offer USD1.45 billion in aggregate principal amount of 7.625% notes due 2026 and EUR500 million in notes with the same coupon and maturity date. This was an increase from the previously announced USD1.00 billion and EUR300 million respectively.

Carnival expects to use the net proceeds from the offerings of notes for general corporate purposes, including the financing of a part of the purchase price, rental payments and costs related to its property, plant and equipment, as well as their repair, replacement and improvements.

The offering of the notes is expected to close on Wednesday next week.

Earlier on Friday, Carnival said that brands Holland America line, Princess Cruises and Seabourn have cancelled or paused several cruises for the start of 2021, particularly those sailing in and out of US ports.

This is as the brands prepare and develop plans to meet the Framework for Conditional Sailing Order issued by the US Centers for Disease Control & Prevention.

Shares in Carnival closed 0.8% lower at 1,163.00 pence on Friday in London, while its New York shares ended down 4.5% at USD13.37, but were up 0.4% at USD17.43 in after hours trade.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Carnival PLC 1,413.00 GBX 5.68

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