Carnival to issue USD2.4 billion in notes to fund tender offer

(Alliance News) - Carnival PLC late Wednesday said it has priced its private offering of USD2.41 ...

Alliance News 22 July, 2021 | 6:12AM
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(Alliance News) - Carnival PLC late Wednesday said it has priced its private offering of USD2.41 billion in senior secured notes due 2028, the proceeds of which will go towards its tender offer for USD2.0 billion of its 11.5% notes due in 2023.

The Anglo American cruise operator's new notes will interest semi-annually on February 1 and August 1 of each year, starting from February 2022 at a rate of 4.000% per year.

The notes will mature on August 1, 2028, and the proceeds from the issue will go towards the repurchasing of 2023 notes, and the purchase of accrued and unpaid interest.

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.

Shares in Carnival closed 9.4% higher at 1,465.40 pence on Wednesday in London.

By Dayo Laniyan; dayolaniyan@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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