Carnival issues $1B 5.75% notes due 2030, redeems $1B 10.5% notes, cuts annual interest cost ~$45M

CARNIVAL PLC

Issued $1.0B 5.750% senior unsecured notes due 2030 in private offering.
Used net proceeds plus cash to redeem $1.0B 10.500% notes due 2030.
Expected annual interest expense reduction of ~$45 million (over 4.5%).
Notes have investment grade-style covenants; interest payable semi-annually starting Sept 2025.
Guaranteed by Carnival plc and certain subsidiaries.

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