Carnival closes senior priority note offering after increasing value

(Alliance News) - Carnival PLC on Wednesday said it has closed its private offering of senior priority notes, due 2028.

The Miami, Florida-based cruise line upsized its offering to USD2.08 billion from USD1.25 billion last week, with a 10.375% coupon at 98.465% of face value, which it attributed to "strong investor demand".

The company expects to use the net proceeds of the offering to repay amounts drawn under a revolving credit facility, which remains available for future principal payments on debt.

The notes will pay interest semi-annually on May 1 and November 1 of each year.

Carnival shares were trading 0.9% higher at 662.60 pence each in London on Wednesday morning.

By Holly Beveridge; hollybeveridge@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.