Carnival Corp has closed its private offering of $2 bill aggregate principal amount of 6% senior unsecured notes, due 2029.
The notes will pay interest semi-annually on 1st May and 1st November each year, beginning 1st May, 2022, at a rate of 6% per year and are callable beginning 1st November, 2024. The unsecured notes will mature on 1st May, 2029.
Carnival said that it expected to use the notes net proceeds to make scheduled principal debt payments during fiscal 2022 and for general corporate purposes, including, without limitation, making repayments of its indebtedness, the financing or refinancing of a portion of the purchase price, rental payments, costs and expenses related to certain of its current and future property, plant and equipment (including leased assets and vessels).
Also included are vessels’ maintenance, repair, replacement and improvements, as well as any other payments related to their return to service costs, in each case to the extent such amounts are not covered by Carnival’s existing and future export credit facilities.
PJT Partners served as independent financial advisor to Carnival Corp for the transactions.