REG-Carnival PLC: CCL Term Loan Facility Amendment

CarnivalAnnouncement

01/07/2021 07:05

Carnival Corporation and Carnival plc Announce Amendment of Term Loan Facility

Miami (June 30, 2021) - Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK)
announcement that a joint Current Report on Form 8-K was filed with the U.S.
Securities and Exchange Commission (the “Commission”).  As described in
the joint Current Report on Form 8-K, on June 30, 2021 (the “Effective
Date”), Carnival Corporation (the “Company”) entered into Amendment No.
2 to Term Loan Agreement, by and among the Company and Carnival Finance, LLC,
as borrowers, Carnival plc, as a guarantor, certain other subsidiary
guarantors party thereto, and JPMorgan Chase Bank, N.A., as administrative
agent (the “Amendment”). The Amendment amended the Company’s
first-priority senior secured term loan facility entered into on June 30, 2020
(the “Original Closing Date”) (the “Term Loan Facility”), which
consists of a tranche in an original aggregate principal amount of $1,860
million and a tranche in an original aggregate principal amount of €800
million, each of which matures on June 30, 2025. The Amendment amended the
Term Loan Facility to, among other things, reduce the interest rate to a rate
per annum equal to (x) with respect to loans funded in U.S. dollars, adjusted
LIBOR with a 0.75% floor, plus a margin equal to 3.00% (which is 4.50% per
annum lower than the LIBOR margin under the Term Loan Facility prior to the
Amendment), or (y) with respect to loans funded in Euro, EURIBOR with a 0.00%
floor, plus a margin equal to 3.75% (which is 3.75% per annum lower than the
EURIBOR margin under the Term Loan Facility prior to the Amendment).

PJT Partners is serving as independent financial advisor to Carnival
Corporation and Carnival plc.

The description of the Amendment and the Term Loan Facility above is qualified
in its entirety by reference to the text of the Amendment, which is attached
as Exhibit 10.1 to the joint Current Report on Form 8-K and is incorporated by
reference into this announcement. 

A copy of the joint Current Report on Form 8-K is available in the Investor
Relations section of the Carnival Corporation & plc website at
wwww.carnivalcorp.com or www.carnivalplc.com, within SEC Filings under the
Financial Information section.

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

#33437669v1 – UK Announcement – Term Loan B Amendment



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