Carnival closes USD3 billion notes offer

Published: 2025-07-16 19:45:09 ET CCL

Published on 07/16/2025 at 19:45

Carnival PLC & Corp - Miami, Florida-based cruise operator - Announces the closing of its offering for USD3.0 billion of 5.75% senior unsecured notes due 2032. As previously disclosed, the company expects to use proceeds from the offering to fully repay borrowings under its loan facility maturing in 2028, while the remaining funds will be used to redeem its USD2.4 billion 5.75% notes maturing in 2027. Carnival says the transaction reflects a continuation of its strategy to deleverage, manage its future debt maturities, and reduce secured debt.

Chief Financial Officer David Bernstein says: "We have completed another successful transaction to continue our accelerated path back to investment grade credit...Already this year the company has opportunistically refinanced nearly USD11 billion of debt and prepaid USD1.1 billion of debt. In addition, the company has cut its secured debt by nearly 70% since its peak in the fourth quarter of 2021 as the company rebuilds its financial fortress."

Current stock price: USD29.04, closed 0.2% higher in New York on Wednesday

12-month change: up 51%

By Elijah Dale, Alliance News senior reporter Asia-Pacific

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