REG-Carnival PLC: Carnival Corporation & plc Announces Pricing of $1.25 Billion 5.125% Senior Unsecured Notes Offering

CarnivalAnnouncement

01/10/2025 07:02

 

Carnival Corporation & plc Announces Pricing of $1.25 Billion 5.125% Senior
Unsecured Notes Offering

 

Proceeds from the offering of senior unsecured notes, together with cash on
hand, to be used to redeem $2.0 billion of 6.000% senior unsecured notes due
2029

MIAMI, Sept. 30, 2025 -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE:
CUK) today announced that Carnival Corporation (the "Company") priced its
private offering (the "Notes Offering") of $1.25 billion aggregate principal
amount of 5.125% senior unsecured notes due 2029 (the "Notes").

The Company expects to use the proceeds from the Notes Offering, together with
cash on hand, to redeem its $2.0 billion 6.000% senior unsecured notes due
2029 (the "2029 Unsecured Notes") after the closing of the Notes Offering.

The transaction is a continuation of the Company's strategy to reduce interest
expense. In addition, the indenture that will govern the Notes will have
investment grade-style covenants.

The Notes Offering is expected to close on October 15, 2025, subject to
customary closing conditions.

The Notes will pay interest semi-annually on May 1 and November 1 of each
year, beginning on May 1, 2026 at a rate of 5.125% per year. The Notes will be
unsecured and will mature on May 1, 2029. The Notes will be fully and
unconditionally guaranteed on an unsecured basis, jointly and severally, by
Carnival plc and certain of the Company's and Carnival plc's subsidiaries that
also guarantee our first-priority secured indebtedness, certain of our other
unsecured notes and our convertible notes.

This press release does not constitute a notice of redemption with respect to
the 2029 Unsecured Notes.

The Notes are being 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 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.

SOURCE Carnival Corporation & plc

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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