CARNIVAL PLC (CUK): debt financing — Carnival closes $2.0B 6.125% notes offering, redeems $2.03B 10.375% notes, saves >$80M/year

CARNIVAL PLC

Issued $2.0B 6.125% notes due 2033; used proceeds plus cash to redeem $2.03B 10.375% notes due 2028.
Transaction reduces net annual interest expense by over $80M, representing over 4% reduction.
Notes have investment grade-style covenants; unsecured, guaranteed by Carnival plc and certain subs.
Interest at 6.125% payable semi-annually; Notes mature February 15, 2033.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

CARNIVAL PLC incurred senior notes of $2.0 billion aggregate principal amount with U.S. Bank Trust Company, National Association at 6.125% per year maturing February 15, 2033.

Instrument: senior notes
Principal: $2.0 billion aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 6.125% per year
Maturity: February 15, 2033
Event: incurrence

Exact text from the filing

On February 7, 2025, Carnival Corporation (the “Company”) closed its previously announced private offering (the “Notes Offering”) of $2.0 billion aggregate principal amount of 6.125% senior unsecured notes due 2033 (the “Notes”).

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Source: SEC EDGAR

accession 0000950142-25-000285

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