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Carnival PLC - Florida-based cruise operator - Closes previously announced private offering of $2.0 billion of 6.125% of senior unsecured notes due 2023. Says it utilised the net proceeds from the offering, coupled with on-hand cash, to redeem $2.03 billion 10.375% senior priority notes due 2028 of Carnival Holdings (Bermuda) Ltd. Says this lead to an over 4% reduction in interest expense. Adds that the notes offering and redemption of senior priority notes reflects a continuation of its strategy ‘to reduce interest expense, simplify its capital structure and manage its future debt maturities.’ Anticipates the transaction will reduce annual net interest expense by over $80 million and says the indenture governing the notes has investment grade-style covenants. Notes will pay interest semi-annually on February 15 and August 15 each year, beginning this year, says the firm, at a rate of 6.125% per year. Adds that they will be unsecure and mature by February 15 2033. Current stock price: 1,945.00 pence, down 0.7% on Monday morning in London 12-month change: up 74% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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