Carnival Corporation & plc announced that Carnival plc commenced a private offering of new senior unsecured notes in an aggregate principal amount of €1.0 billion, expected to mature in 2031, to fully repay the borrowings under Carnival Corporation’s first-priority senior secured term loan facility maturing in 2027 and to repay a portion of the borrowings under Carnival Corporation’s first-priority senior secured term loan facility maturing in 2028. In addition, the indenture that will govern the Notes is expected to have investment grade-style covenants.
The Notes will be offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended and outside the United States, only to non-U.S. investors pursuant to Regulation S under the Securities Act.