Carnival ships to restart; USD2.4 billion of notes tendered in offer

(Alliance News) - Carnival PLC on Tuesday said USD2.41 billion of secured notes were validly ...

Alliance News 20 July, 2021 | 11:04AM
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(Alliance News) - Carnival PLC on Tuesday said USD2.41 billion of secured notes were validly tendered in an offer as it schedules additional ships to restart operations this autumn.

The Anglo-American cruise operator's tender offer was for the purchase of around USD2.00 billion of its 11.5% senior secured notes due in 2023.

"Because the aggregate principal amount of all notes tendered as of the early tender/consent deadline exceeds the maximum tender amount, the aggregate principal amount of a holder's validly tendered notes accepted for purchase will be subject to proration," it noted.

Also on Tuesday, the cruise operator said seven additional ships at Carnival Cruise Line will restart in the autumn, bringing the total number reopening ships to 15, as the line's restart ramps up.

The firm said three US moored ships will resume operations in September and four in October.

The announced restart dates extend its pause in operations for four of the seven ships, including Carnival Pride from Baltimore, Carnival Dream from Galveston, Carnival Conquest from Miami, and Carnival Sensation from Mobile.

"We are very excited about our restart and greatly appreciate the support of our guests, travel agents and port and destination partners," said Christine Duffy, president of Carnival Cruise Line.

"By the end of July, we will have five ships in our restart plan, including the introduction of service on Mardi Gras, and we are seeing a great combination of strong demand and strong guest satisfaction scores tied to the positive guest experience on board," Duffy added.

Carnival said it welcomes unvaccinated guest but plans to test them before boarding and disembarking the cruise. The firm said it will charge guests USD150 per person to cover the cost.

Carnival shares were up 1.1% at 1,311.20 pence each in London.

By Scarlett Butler; scarlettbutler@alliancenews.com

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Carnival PLC 1,546.80 GBX 2.49

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