US EditionCarnival Corporation & plc Announces Pricing of $1.0 Billion 5.875% Senior Unsecured Notes Offering for Refinancing and Interest Expense Reduction
- Carnival Corporation & plc announced on May 12, 2025, in Miami the pricing of a $1.0 billion 5.875% senior unsecured notes offering due 2031 called the Notes Offering.
- The Notes Offering is intended to finance the full repayment of approximately $993 million in senior unsecured debt maturing in 2026, a portion of which—$350 million—was previously retired earlier this year, aligning with the company’s efforts to lower its interest costs.
- The new Notes will be unsecured, mature on June 15, 2031, pay interest semi-annually starting December 15, 2025, and will be guaranteed jointly and severally by Carnival plc and certain subsidiaries.
- Carnival anticipates lowering its net interest costs by more than $20 million each year as a result of maturing the 2026 Unsecured Notes on schedule, combined with earlier partial redemptions tied to this transaction.
- This refinancing reflects Carnival’s ongoing effort to manage future debt maturities and improve financial health amid risks like geopolitical uncertainty, inflation, higher fuel prices, evolving regulations, and impacts on the cruise industry demand.
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Carnival Corporation & plc Announces Pricing of $1.0 Billion 5.875% Senior Unsecured Notes Offering for Refinancing and Interest Expense Reduction
Proceeds from the offering of senior unsecured notes to be used to redeem $993 million 7.625% senior unsecured notes due 2026
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