REG-Carnival PLC: Carnival Corporation & plc Announces Closing of €1.0 Billion 4.125% Senior Unsecured Notes Offering

CarnivalAnnouncement

07/07/2025 14:00

 

Carnival Corporation & plc Announces Closing of €1.0 Billion 4.125% Senior
Unsecured Notes Offering

 

Proceeds from the offering of senior unsecured notes to be used to repay
borrowings under senior secured term loan facilities

MIAMI, July 7, 2025 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE:
CCL; NYSE: CUK) today announced that Carnival plc (the "Company") has closed
its previously announced private offering (the "Notes Offering") of €1.0
billion aggregate principal amount of 4.125% senior unsecured notes due 2031
(the "Notes"). The Company will use the proceeds from the Notes Offering to
fully repay the borrowings under Carnival Corporation's first-priority senior
secured term loan facility maturing in 2027 (the "2027 Term Loan Facility")
and to repay a portion of the borrowings under Carnival Corporation's
first-priority senior secured term loan facility maturing in 2028. In
conjunction with the Company's prepayment of $450.0 million on June 27, 2025
towards the 2027 Term Loan Facility, this transaction builds on its continuing
efforts to deleverage, reduce interest expense, simplify its capital structure
and manage its maturity profile. In addition, the indenture that governs the
Notes has investment grade-style covenants.

"We continue to opportunistically access the capital markets," said David
Bernstein, Chief Financial Officer. "We are just one notch away from an
investment grade credit rating and this successful transaction puts us
further down that path."

The Notes will pay interest annually on July 15 of each year, beginning on
July 15, 2026, at a rate of 4.125% per year. The Notes will be unsecured and
will mature on July 15, 2031. The Notes will be fully and unconditionally
guaranteed on a senior unsecured basis, jointly and severally, by Carnival
Corporation and certain of the Company's and Carnival Corporation's
subsidiaries that also guarantee certain of our first-priority secured
indebtedness, certain of our other unsecured notes and our convertible notes.

The Notes were offered only to persons reasonably believed to be qualified
institutional buyers in reliance on Rule 144A under the Securities Act of
1933, as amended (the "Securities Act"), and outside the United States, only
to non-U.S. investors pursuant to Regulation S under the Securities Act.

The Notes were not, and will not be, registered under the Securities Act or
any state securities laws and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration
requirements of the Securities Act and applicable state laws.

This press release shall not constitute an offer to sell or the solicitation
of an offer to purchase the Notes or any other securities and shall not
constitute an offer, solicitation or sale in any state or jurisdiction in
which such offering, solicitation or sale would be unlawful.

About Carnival Corporation & plc

Carnival Corporation & plc is the largest global cruise company, and among the
largest leisure travel companies, with a portfolio of world-class cruise lines
- AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America
Line, P&O Cruises, Princess Cruises and Seabourn.

Cautionary Note Concerning Forward-Looking Statements

Certain statements in this press release constitute forward-looking statements
under the Private Securities Litigation Reform Act of 1995. These statements
relate to, among other things, the financing transactions described herein,
future results, operations, outlooks, plans, goals, reputation, cash flows and
liquidity and other events which have not yet occurred. Forward-looking
statements reflect management's current expectations and are subject to risks,
uncertainties and other factors that could cause our actual results,
performance or achievements to differ materially from the future results,
performance or achievements expressed or implied in those forward-looking
statements. Factors that could affect our results include, among others, those
discussed under the caption "Risk Factors" in our most recent annual report on
Form 10-K, as well as our other filings with the Securities and Exchange
Commission (the "SEC"), copies of which may be obtained by visiting the 
Investor Relations page of our website at www.carnivalcorp.com/investors/ or
the SEC's website at www.sec.gov.  Undue reliance should not be placed on
the forward-looking statements in this release, which are based on information
available to us on the date hereof. We undertake no obligation to publicly
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.

 

 

CONTACT: Carnival Corporation & plc Media Contact: Jody Venturoni, Carnival
Corporation, jventuroni@carnival.com, (469) 797-6380; Carnival Corporation &
plc Investor Relations Contact: Beth Roberts, Carnival Corporation,
eroberts@carnival.com, (305) 406-4832

 



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