REG-Carnival PLC: Carnival Multicurrency Credit Agreement

CarnivalAnnouncement

13/05/2021 14:30

Carnival Corporation and Carnival plc Announce Amendment of Multicurrency
Revolving Credit Agreement

MIAMI (May 13, 2021) – Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK)
announce that its joint Current Report on Form 8-K was filed with the U.S.
Securities and Exchange Commission on May 13, 2021.  As described in the
joint Current Report, on Form 8-K, on May 11, 2021, Carnival Corporation,
Carnival plc and certain of their subsidiaries entered into an Amendment
Agreement (the “Amendment Agreement”) to the multicurrency revolving
credit agreement (the “Facility Agreement”), originally dated May 18,
2011, as amended and restated on August 6, 2019 and further amended most
recently on December 31, 2020, among Carnival Corporation, Carnival plc,
certain of their subsidiaries, the lenders party thereto and Bank of America
Europe Designated Activity Company (formerly known as Bank of America Merrill
Lynch International Designated Activity Company) as facilities agent.  The
Facility Agreement was filed with the joint Quarterly Report on Form 10-Q for
the quarter ended August 31, 2019, and the December 31, 2020 amendment to the
Facility Agreement was filed with a joint Current Report on Form 8-K on
January 6, 2021.

Among other things, the Amendment Agreement modifies the restriction on the
grant of guarantees in respect to certain outstanding debt (Clause 27.8 of the
Amended Facility Agreement) to permit the subsidiaries of Carnival Corporation
and Carnival plc that have guaranteed the 5.625% Senior Unsecured Notes due
2026 and 5.75% Senior Unsecured Notes due 2027 of Carnival Corporation (the
“Subsidiary Guarantors”) to guarantee certain debt of Carnival Corporation
and Carnival plc that was outstanding prior to April 2020.  In addition, the
Subsidiary Guarantors guaranteed the indebtedness and other obligations under
the Facility Agreement as part of the amendment process.

Some of the lenders under the Facility Agreement and their affiliates have
various relationships with Carnival Corporation, Carnival plc and certain of
their subsidiaries involving the provision of financial services, including
cash management and investment banking services.  In addition, Carnival
Corporation and Carnival plc have entered into other loan arrangements as well
as certain derivative arrangements with certain of the lenders and their
affiliates.

The foregoing description of the Amendment Agreement is qualified in its
entirety by reference to the complete terms and conditions of the Amendment
Agreement, which will be filed with the joint Quarterly Report on Form 10-Q
for the quarter ended May 31, 2021.

Concurrently with the amendment and guarantees described in Item 2.03 above,
substantially similar amendments and guarantees were implemented with respect
to bank loan facilities of Carnival Corporation and Carnival plc representing
aggregate outstanding indebtedness of $2.6 billion.

A copy of the joint Current Report on Form 8-K is also available on the
Carnival Corporation & plc website
at www.carnivalcorp.com or www.carnivalplc.com.

 MEDIA CONTACT     INVESTOR RELATIONS CONTACT  
 Roger Frizzell    Beth Roberts                
 001 305 406 7862  001 305 406 4832            

#332966806v1 – UK Announcement - Amendment Agreement dated May 11, 2021 to
Multicurrency Facilities Agreement



Copyright (c) 2021 PR Newswire Association,LLC. All Rights Reserved