A Carnival Corp. subsidiary closed its private offering of $2.03b 10.375% senior priority notes due 2028.
The proceeds will be used to repay amounts drawn under the company’s revolving credit facility, which remains available for future principal payments on debt and for general corporate purposes.
Guaranteed on an unsecured basis
The notes are fully and unconditionally guaranteed on an unsecured basis, jointly and severally, by Carnival Corp., Carnival plc and certain other subsidiaries that guarantee substantially all of the company’s other debt.
In connection with the offering, Carnival and its subsidiaries will contribute 12 unencumbered vessels to the issuer, each continuing to be operated by Carnival.
The notes were offered only to qualified institutional investors outside the US.
PJT Partners served as independent financial advisor to Carnival Corp. & plc.
