debt
confidence high
sentiment positive
materiality 0.75
Carnival launches $2.0B note offering to refinance 10.375% Senior Priority Notes due 2028
CARNIVAL PLC
- Offering $2.0B in new senior unsecured notes due 2033 to refinance $2.03B 10.375% Senior Priority Notes due 2028.
- Conditional notice of redemption for Senior Priority Notes on Feb 7, 2025 at 100% plus make-whole and accrued interest.
- Expects reduced interest expense, simplified capital structure; new notes will have investment grade-style covenants.
- Notes offered to QIBs under Rule 144A and to non-U.S. investors under Reg S, not registered under Securities Act.