BofA update shows where active managers are putting money
MIAMI - Carnival Corporation (LON:CCL) & plc (NYSE/LSE:CCL; NYSE:CUK) announced Monday the launch of a €1 billion private offering of senior unsecured notes expected to mature in 2031.
According to the company’s press release, proceeds from the offering will be used to fully repay borrowings under Carnival Corporation’s first-priority senior secured term loan facility maturing in 2027 and to repay a portion of borrowings under a similar facility maturing in 2028.
The notes will feature investment grade-style covenants and will be offered only to qualified institutional buyers under Rule 144A of the Securities Act of 1933 and to non-U.S. investors pursuant to Regulation S.
The securities will not be registered under the Securities Act or state securities laws and cannot be offered or sold in the United States without registration or an applicable exemption from registration requirements.
Carnival Corporation & plc operates a portfolio of cruise lines including AIDA Cruises, Carnival (NYSE:CCL) Cruise Line, Costa Cruises, Cunard, Holland America Line, P&O Cruises, Princess Cruises and Seabourn.
The company describes itself as the largest global cruise company and among the largest leisure travel companies worldwide.
This announcement comes as part of Carnival’s ongoing debt management strategy, though the company noted in its statement that it is not obligated to publicly update or revise any forward-looking statements related to the offering.
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