Carnival to redeem $322 million of 5.750% senior notes due 2027

Carnival Corporation (NYSE:CCL) announced on Tuesday that it has issued a notice of redemption for the remaining outstanding principal amount of its 5.750% senior unsecured notes due 2027. According to a press release statement furnished with a U.S. Securities and Exchange Commission filing, the company plans to redeem approximately $322 million of these notes. This debt management move comes as the company carries total debt of $28.65 billion, with InvestingPro data showing a current ratio of 0.34, indicating potential liquidity challenges.

The redemption is scheduled to take place on August 29, 2025. The redemption price will be equal to 100% of the principal amount of the notes to be redeemed, plus an applicable make-whole premium and any accrued and unpaid interest up to, but not including, the redemption date.

Carnival stated that this announcement does not itself constitute a notice of redemption with respect to the 2027 unsecured notes.

Carnival Corporation is incorporated in Panama, and its ordinary shares are listed on the New York Stock Exchange under the symbol CCL. Carnival plc, incorporated in England and Wales, also has ordinary shares traded on the New York Stock Exchange under the symbol CUK.

This information is based on a press release statement included in Carnival’s Form 8-K filing with the SEC.

In other recent news, Carnival Corporation has closed a $3 billion private offering of 5.75% senior unsecured notes due in 2032. The company plans to use the proceeds to fully repay borrowings under its first-priority senior secured term loan facility maturing in 2028 and to redeem $2.4 billion of its 5.75% senior unsecured notes due in 2027. Additionally, Carnival announced a notice of redemption for the remaining $322 million of its 2027 senior notes, which will be redeemed at 100% of the principal amount, plus applicable premiums and interest, by August 29, 2025.

Furthermore, TD Cowen has initiated coverage on Carnival with a Buy rating, citing yield growth and a shift in focus towards yield optimization and margin improvement. In a related development, Goldman Sachs has reiterated its Buy rating on Carnival, emphasizing demand growth following recent meetings with company executives. These developments reflect ongoing strategic financial maneuvers and analyst confidence in the company’s future performance.

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