--- schema_version: "secwatch.filing_event.v1" accession: "0000950142-24-001201" form_type: "8-K" ticker: "CUK" cik: "0001125259" company_name: "CARNIVAL PLC" filed_at: "2024-04-25T23:59:59+00:00" generated_at: "2026-06-03T07:28:33.928163+00:00" event_type: "debt" sentiment: "positive" materiality_score: 0.7 calibrated_materiality_score: 0.7 confidence: "high" source: SEC EDGAR --- # Carnival closes €500M 5.75% notes due 2030, reprices ~$2.75B term loans, reduces net interest expense ## Summary - Closed €500M 5.75% senior notes due 2030; proceeds to redeem €500M 7.625% notes due 2026 (interest expense reduction ~2%). - Repriced approx. $1B (2027) and $1.75B (2028) term loans to SOFR+2.75% with 0.75% floor. - Partial prepayments: $500M on 2028 term loan, $300M on 2027 term loan. - Expected net interest expense reduction: over $30M for rest of 2024, over $50M annualized. - Transactions part of ongoing debt and interest expense reduction and capital structure simplification. ## SEC filing metadata - accession: 0000950142-24-001201 - form_type: 8-K - ticker: CUK - cik: 0001125259 - company_name: CARNIVAL PLC - filed_at: 2024-04-25T23:59:59+00:00 - event_type: debt - sentiment: positive - materiality_score: 0.7 - calibrated_materiality_score: 0.7 - confidence: high - sec_items: 1.01, 2.03, 8.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1125259/000095014224001201/0000950142-24-001201-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/815097/000095014224001201/eh240474090_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0000950142-24-001201 - JSON: https://secwatch.observer/filing/0000950142-24-001201.json - Plain text: https://secwatch.observer/filing/0000950142-24-001201.txt ## Key facts - Debt Financings CARNIVAL PLC incurred senior notes of €500 million aggregate principal amount with U.S. Bank Trust Company, National Association at 5.750% per year maturing January 15, 2030. - Instrument: senior notes - Principal: €500 million aggregate principal amount - Counterparty: U.S. Bank Trust Company, National Association - Rate: 5.750% per year - Maturity: January 15, 2030 - Event: incurrence source text: closed its previously announced private offering (the “Notes Offering”) of €500 million aggregate principal amount of 5.750% senior unsecured notes due 2030 (the “Notes”). evidence_url: https://www.sec.gov/Archives/edgar/data/1125259/000095014224001201/0000950142-24-001201-index.htm - Debt Financings CARNIVAL PLC amended term loan of approximately $1.75 billion with JPMorgan Chase Bank, N.A. at SOFR with a 0.75% floor, plus a margin equal to 2.75% maturing 2028. - Instrument: term loan - Principal: approximately $1.75 billion - Counterparty: JPMorgan Chase Bank, N.A. - Rate: SOFR with a 0.75% floor, plus a margin equal to 2.75% - Maturity: 2028 - Event: amendment source text: The 2028 Repricing Amendment reprices approximately $1.75 billion of first-priority senior secured term loans maturing in 2028 (the “2028 Repriced Loans”) under the 2028 Term Loan Credit Agreement evidence_url: https://www.sec.gov/Archives/edgar/data/1125259/000095014224001201/0000950142-24-001201-index.htm - Debt Financings CARNIVAL PLC amended term loan of approximately $1 billion with JPMorgan Chase Bank, N.A. at SOFR with a 0.75% floor, plus a margin equal to 2.75% maturing 2027. - Instrument: term loan - Principal: approximately $1 billion - Counterparty: JPMorgan Chase Bank, N.A. - Rate: SOFR with a 0.75% floor, plus a margin equal to 2.75% - Maturity: 2027 - Event: amendment source text: The 2027 Repricing Amendment reprices approximately $1 billion of first-priority senior secured term loans maturing in 2027 (the “2027 Repriced Loans”) under the 2027 Term Loan Credit Agreement evidence_url: https://www.sec.gov/Archives/edgar/data/1125259/000095014224001201/0000950142-24-001201-index.htm - Material Agreements CARNIVAL PLC entered into Repricing Amendment No. 1 to the Term Loan Agreement dated August 8, 2023 with JPMorgan Chase Bank, N.A. valued at reprices approximately $1 billion of first-priority senior secured term loans maturing in 2027 to be (effective 2024-04-25). - Action: entry - Agreement: credit facility - Counterparty: JPMorgan Chase Bank, N.A. - Value: reprices approximately $1 billion of first-priority senior secured term loans maturing in 2027 to be - Effective: 2024-04-25 source text: On April 25, 2024, the Company entered into (x) the Repricing Amendment No. 1 (the “2027 Repricing Amendment”) to the Term Loan Agreement dated August 8, 2023 (the “2027 Term Loan Credit Agreement”), among the Company and Carnival Finance, LLC, as borrowers, Carnival plc, as a guarantor, certain other subsidiary guarantors party thereto, and JPMorgan Chase Bank, N.A., as administrative agent evidence_url: https://www.sec.gov/Archives/edgar/data/1125259/000095014224001201/0000950142-24-001201-index.htm - Material Agreements CARNIVAL PLC entered into Repricing Amendment No. 6 to the Term Loan Agreement dated as of June 30, 2020 with JPMorgan Chase Bank, N.A. valued at reprices approximately $1.75 billion of first-priority senior secured term loans maturing in 2028 to (effective 2024-04-25). - Action: entry - Agreement: credit facility - Counterparty: JPMorgan Chase Bank, N.A. - Value: reprices approximately $1.75 billion of first-priority senior secured term loans maturing in 2028 to - Effective: 2024-04-25 source text: (y) the Repricing Amendment No. 6 (the “2028 Repricing Amendment”, and together with the 2027 Repricing Amendment, the “Repricing Amendments”) to the Term Loan Agreement dated as of June 30, 2020 (the “2028 Term Loan Credit Agreement”), among the Company and Carnival Finance, LLC, as borrowers, Carnival plc, as a guarantor, certain other subsidiary guarantors party thereto, and JPMorgan Chase Bank, N.A., as administrative agent. evidence_url: https://www.sec.gov/Archives/edgar/data/1125259/000095014224001201/0000950142-24-001201-index.htm - Material Agreements CARNIVAL PLC entered into Indenture with U.S. Bank Trust Company, National Association valued at €500 million aggregate principal amount of 5.750% senior unsecured notes due 2030 (effective 2024-04-25). - Action: entry - Agreement: notes offering - Counterparty: U.S. Bank Trust Company, National Association - Value: €500 million aggregate principal amount of 5.750% senior unsecured notes due 2030 - Effective: 2024-04-25 source text: On April 25, 2024, Carnival Corporation (the “Company”) closed its previously announced private offering (the “Notes Offering”) of €500 million aggregate principal amount of 5.750% senior unsecured notes due 2030 (the “Notes”). The Notes were issued pursuant to an indenture, dated as of April 25, 2024 (the “Indenture”), among the Company, Carnival plc, the subsidiary guarantors party thereto and U.S. Bank Trust Company, National Association, as trustee. evidence_url: https://www.sec.gov/Archives/edgar/data/1125259/000095014224001201/0000950142-24-001201-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.