Carnival plans $1.0B new term loan and $500M secured debt to refinance 2025 facility and redeem 2026 notes

CARNIVAL PLC

New $1.0B first lien term loan B facility expected to mature in 2027.
May raise additional $500M of secured debt maturing in 2029, subject to market conditions.
Proceeds used to repay a portion of existing first-priority senior secured term loan due 2025.
After closing, intends to redeem all 10.5% and 10.125% second-priority secured notes due 2026 with cash on hand.
Refinancing aims to extend maturities and reduce interest expense on high-cost debt.

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