Carnival's USD3.5 Billion Private Note Offering Closes

(Alliance News) - British-American cruise operator Carnival PLC on Tuesday said its private offering of USD3.5 billion of 5.75% senior unsecured notes due 2027 has now closed.

Proceeds from the note offering will be used to make scheduled principal payments in debt during 2021, as well as for general corporate purposes.

Carnival said it may use the money for: "Financing or refinancing of a portion of the purchase price, rental payments, costs and expenses related to certain of our current and future property, plant and equipment (including leased assets and vessels) and their repair, replacement and improvements, as well as any other payments related to our vessels' ready-for-sea costs."

These will be funded, in each case, to the extent where they are not already covered by Carnival's current and future export credit facilities.

Shares in Carnival closed up 0.3% at 1,367.00 pence in London on Tuesday.

By Anna Farley; annafarley@alliancenews.com

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