REG-Carnival PLC: Carnival Corporation & plc Announces the Partial Redemption of Existing $1.4 Billion 7.625% Senior Unsecured Notes due 2026

CarnivalAnnouncement

22/04/2025 11:45

Carnival Corporation & plc Announces the Partial Redemption of Existing $1.4
Billion 7.625% Senior Unsecured Notes due 2026

 

MIAMI, April 22, 2025 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE:
CCL; NYSE: CUK) today announced that Carnival Corporation (the "Company")
issued a notice of redemption for $350.0 million outstanding principal amount
of its $1.4 billion 7.625% senior unsecured notes due 2026 (the "2026
Unsecured Notes") to be redeemed on May 1, 2025 at a redemption price equal to
100.0% of the principal amount of the 2026 Unsecured Notes to be redeemed,
plus accrued and unpaid interest to, but excluding, the redemption date. This
redemption is a continuation of the Company's strategy to deleverage and
reduce interest expense.

 

This press release does not constitute a notice of redemption with respect to
the 2026 Unsecured Notes.

 

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

 

Carnival Corporation and Carnival plc and their respective subsidiaries are
referred to collectively in this press release as "Carnival Corporation &
plc," "our," "us" and "we." Some of the statements, estimates or projections
contained in this press release are "forward-looking statements" that involve
risks, uncertainties and assumptions with respect to us, including some
statements concerning the financing transactions described herein, future
results, operations, outlooks, plans, goals, reputation, cash flows, liquidity
and other events which have not yet occurred. These statements are intended to
qualify for the safe harbors from liability provided by Section 27A of the
Securities Act and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements other than statements of historical facts are
statements that could be deemed forward-looking. These statements are based on
current expectations, estimates, forecasts and projections about our business
and the industry in which we operate and the beliefs and assumptions of our
management. We have tried, whenever possible, to identify these statements by
using words like "will," "may," "could," "should," "would," "believe,"
"depends," "expect," "goal," "aspiration," "anticipate," "forecast,"
"project," "future," "intend," "plan," "estimate," "target," "indicate,"
"outlook," and similar expressions of future intent or the negative of such
terms.

 

Forward-looking statements include those statements that relate to our outlook
and financial position including, but not limited to, statements regarding:

 · Interest, tax and fuel expenses     
 · Liquidity and credit ratings        
 · The transactions described herein   
                                       

Because forward-looking statements involve risks and uncertainties, there are
many factors that could cause our actual results, performance or achievements
to differ materially from those expressed or implied by our forward-looking
statements. This note contains important cautionary statements of the known
factors that we consider could materially affect the accuracy of our
forward-looking statements and adversely affect our business, results of
operations and financial position. These factors include, but are not limited
to, the following:

·          Events and conditions around the world, including
geopolitical uncertainty, war and other military actions, pandemics,
inflation, higher fuel prices, higher interest rates and other general
concerns impacting the ability or desire of people to travel could lead to a
decline in demand for cruises as well as have significant negative impacts on
our financial condition and operations.

·          Incidents concerning our ships, guests or the cruise
industry may negatively impact the satisfaction of our guests and crew and
lead to reputational damage.

·          Changes in and non-compliance with laws and regulations
under which we operate, such as those relating to health, environment, safety
and security, data privacy and protection, anti-money laundering,
anti-corruption, economic sanctions, trade protection, labor and employment,
and tax may be costly and lead to litigation, enforcement actions, fines,
penalties and reputational damage.

·          Factors associated with climate change, including
evolving and increasing regulations, increasing concerns about climate change
and the shift in climate conscious consumerism and stakeholder scrutiny, and
increasing frequency and/or severity of adverse weather conditions could have
a material impact on our business.

·          Inability to meet or achieve our targets, goals,
aspirations, initiatives, and our public statements and disclosures regarding
them, including those related to sustainability matters, may expose us to
risks that may adversely impact our business.

·          Cybersecurity incidents and data privacy breaches, as
well as disruptions and other damages to our principal offices, information
technology operations and system networks and failure to keep pace with
developments in technology have adversely impacted and may in the future
materially adversely impact our business operations, the satisfaction of our
guests and crew and may lead to fines, penalties and reputational damage.

·          The loss of key team members, our inability to recruit or
retain qualified shoreside and shipboard team members and increased labor
costs could have an adverse effect on our business and results of operations.

·          Increases in fuel prices, changes in the types of fuel
consumed and availability of fuel supply may adversely impact our scheduled
itineraries and costs.

·          We rely on suppliers who are integral to the operations
of our businesses. These suppliers and service providers may be unable to
deliver on their commitments, which could negatively impact our business.

·          Fluctuations in foreign currency exchange rates may
adversely impact our financial results.

·          Overcapacity and competition in the cruise and land-based
vacation industry may negatively impact our cruise sales, pricing and
destination options.

·          Inability to implement our shipbuilding programs and ship
repairs, maintenance and refurbishments may adversely impact our business
operations and the satisfaction of our guests.

·          We require a significant amount of cash to service our
debt and sustain our operations. Our ability to generate cash depends on many
factors, including those beyond our control, and we may not be able to
generate cash required to service our debt and sustain our operations.

·          Our substantial debt could adversely affect our financial
health and operating flexibility.

·          The risk factors included in Carnival Corporation's and
Carnival plc's Annual Report on Form 10-K filed with the SEC on January 27,
2025.

 

The ordering of the risk factors set forth above is not intended to reflect
our indication of priority or likelihood. Additionally, many of these risks
and uncertainties are currently, and in the future may continue to be,
amplified by our substantial debt balance incurred during the pause of our
guest cruise operations. There may be additional risks that we consider
immaterial or which are unknown.

 

Forward-looking statements should not be relied upon as a prediction of actual
results. Subject to any continuing obligations under applicable law or any
relevant stock exchange rules, we expressly disclaim any obligation to
disseminate, after the date of this document, any updates or revisions to any
such forward-looking statements to reflect any change in expectations or
events, conditions or circumstances on which any such statements are based.

 

Forward-looking and other statements in this document may also address our
sustainability progress, plans, and goals (including climate change and
environmental-related matters). In addition, historical, current, and
forward-looking sustainability- and climate-related statements may be based on
standards and tools for measuring progress that are still developing, internal
controls and processes that continue to evolve, and assumptions and
predictions that are subject to change in the future and may not be generally
shared.

 

SOURCE Carnival Corporation & plc

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



Copyright (c) 2025 PR Newswire Association,LLC. All Rights Reserved