debt
confidence high
sentiment positive
materiality 0.70
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.