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LONDON - Carnival (NYSE:CCL) plc announced Tuesday it plans to issue €1 billion in senior unsecured notes, with J.P. Morgan Securities plc acting as the stabilization coordinator for the offering.
The notes will be structured as six-year non-call securities, according to a stabilization notice issued by J.P. Morgan. The offering will be listed on the International Stock Exchange with a minimum denomination of €100,000.
The stabilization period is expected to begin on July 1, 2025, and end no later than August 1, 2025. During this period, the stabilization manager may over-allot securities by up to 5% of the aggregate nominal amount to support the market price of the securities.
The cruise operator’s notes will be offered under Regulation S and Rule 144A. No pricing details were disclosed in the announcement, which stated the offer price is "to be confirmed."
The securities have not been registered under the United States Securities Act of 1933 and will not be offered for sale in the United States.
The announcement specifies that any stabilization action may cease at any time during the stabilization period and is not guaranteed to occur.
This information was provided in a press release statement from J.P. Morgan Securities plc as the stabilization coordinator for the offering.
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