Carnival Corporation & plc Announces Pricing of $1.0 Billion Senior Unsecured Notes due 2030 to Refinance 2023 Maturities

MIAMI, Might 18, 2022 /PRNewswire/ — Carnival Company & plc (NYSE/LSE: CCL NYSE: CUK) right now declared that Carnival Corporation (the “Corporation”) has priced the personal offering of $1. billion mixture principal total of 10.5% senior unsecured notes due 2030 (the “Senior Unsecured Notes”). The presenting of the Senior Unsecured Notes is envisioned to shut on Could 25, 2022, matter to customary closing conditions.

The Senior Unsecured Notes will pay out interest semi-each year on June 1 and December 1 of each and every year, commencing on December 1, 2022, at a price of 10.5% per year and are callable beginning June 1, 2025. The Senior Unsecured Notes will be unsecured and will experienced on June 1, 2030.   

The Senior Unsecured Notes will be thoroughly and unconditionally guaranteed on an unsecured foundation, jointly and severally, by Carnival plc and sure of the Firm’s and Carnival plc’s subsidiaries that very own or work vessels and materials intellectual residence and that ensure specific of the Firm’s other indebtedness, which include its initial-priority secured indebtedness and second-priority secured indebtedness.

The Business expects to use the internet proceeds of the offering to make scheduled principal payments on debt all through fiscal 2023 and for normal company needs, together with, with no limitation, earning repayments of its indebtedness, the funding or refinancing of a portion of the obtain cost, rental payments, expenditures and costs related to specific of its latest and foreseeable future home, plant and devices (including leased property and vessels) and their routine maintenance, repair, substitute and advancements, as well as any other payments related to its vessels’ prepared-for-sea charges, in just about every scenario to the extent this sort of amounts are not protected by the Company’s current and future export credit rating amenities.

The Senior Unsecured Notes are getting supplied only to individuals moderately considered to be competent institutional potential buyers in reliance on Rule 144A below the Securities Act of 1933, as amended (the “Securities Act”), and outdoors the United States, only to non-U.S. traders pursuant to Regulation S less than the Securities Act.

The Senior Unsecured Notes will not be registered below the Securities Act or any point out securities laws and may not be available or offered in the United States absent registration or an relevant exemption from the registration demands of the Securities Act and relevant point out legislation.

This press release shall not represent an offer you to sell or a solicitation of an supply to obtain the Senior Unsecured Notes or any other securities and shall not constitute an offer you, solicitation or sale in any jurisdiction in which these give, solicitation or sale would be unlawful.

PJT Partners is serving as impartial money advisor to Carnival Company & plc.

About Carnival Corporation & plc

Carnival Corporation & plc is just one of the world’s premier leisure journey organizations with a portfolio of 9 of the world’s foremost cruise strains. With operations in North America, Australia, Europe and Asia, its portfolio options Carnival Cruise Line, Princess Cruises, Holland The united states Line, Seabourn, P&O Cruises (Australia), Costa Cruises, AIDA Cruises, P&O Cruises (United kingdom) and Cunard.

Cautionary Note Relating to Aspects That May perhaps Have an impact on Long term Final results

Carnival Corporation and Carnival plc and their respective subsidiaries are referred to collectively in this push launch as “Carnival Company & plc,” “our,” “us” and “we.” Some of the statements, estimates or projections contained in this push release are “ahead-looking statements” that include hazards, uncertainties and assumptions with respect to us, together with some statements regarding the funding transactions described herein, upcoming success, operations, outlooks, programs, ambitions, track record, income flows, liquidity and other functions which have not nevertheless happened. These statements are supposed to qualify for the protected harbors from liability furnished by Portion 27A of the Securities Act and Portion 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical info are statements that could be considered forward-looking. These statements are dependent on latest anticipations, estimates, forecasts and projections about our business and the sector in which we operate and the beliefs and assumptions of our administration. We have experimented with, whenever feasible, to establish these statements by applying words like “will,” “may,” “could,” “should really,” “would,” “believe,” “depends,” “expect,” “target,” “aspiration,” “foresee,” “forecast,” “undertaking,” “long run,” “intend,” “system,” “estimate,” “concentrate on,” “indicate,” “outlook,” and related expressions of future intent or the damaging of this sort of phrases.

Ahead-seeking statements involve those statements that relate to our outlook and fiscal posture including, but not limited to, statements about:

  • Pricing
  • Goodwill, ship and trademark fair values
  • Booking concentrations
  • Liquidity and credit history rankings
  • Occupancy
  • Altered earnings per share
  • Fascination, tax and fuel charges
  • Return to visitor cruise operations
  • Currency exchange premiums
  • Effects of the COVID-19 coronavirus international pandemic on our money affliction and final results of functions
  • Estimates of ship depreciable life and residual values

For the reason that ahead-on the lookout statements involve threats and uncertainties, there are a lot of factors that could lead to our real success, general performance or achievements to differ materially from those people expressed or implied by our ahead-searching statements. This note has important cautionary statements of the identified factors that we consider could materially have an impact on the accuracy of our ahead-hunting statements and adversely have an affect on our business, outcomes of operations and monetary place. In addition, numerous of these challenges and uncertainties are presently amplified by and will carry on to be amplified by, or in the foreseeable future may possibly be amplified by, the COVID-19 outbreak. It is not doable to predict or recognize all these hazards. There may be extra threats that we take into account immaterial or which are mysterious. These elements consist of, but are not limited to, the subsequent:

  • COVID-19 has had, and is predicted to continue on to have, a substantial impression on our money problem and functions. The current, and uncertain future, effects of COVID-19, like its influence on the potential or drive of folks to vacation (which include on cruises), is expected to continue to effects our outcomes, operations, outlooks, strategies, ambitions, status, litigation, cash flows, liquidity, and stock selling price
  • situations and problems all-around the entire world, which include war and other armed forces actions, such as the present-day invasion of Ukraine, and other typical fears impacting the capability or wish of persons to vacation have and may perhaps direct to a decline in demand from customers for cruises
  • incidents concerning our ships, guests or the cruise trip marketplace have in the earlier and might, in the potential, effects the gratification of our attendees and crew and guide to reputational problems
  • improvements in and non-compliance with laws and rules beneath which we run, these kinds of as individuals relating to health, setting, safety and security, facts privateness and security, anti-corruption, economic sanctions, trade defense and tax have in the past and may perhaps, in the future, direct to litigation, enforcement steps, fines, penalties and reputational destruction
  • elements associated with weather improve, together with evolving and raising polices, expanding worldwide problem about local climate modify and the shift in local climate acutely aware consumerism and stakeholder scrutiny, and growing frequency and/or severity of adverse temperature ailments could adversely affect our business
  • incapacity to meet up with or realize our sustainability related aims, aspirations, initiatives, and our general public statements and disclosures about them, could expose us to risks that may well adversely impact our business
  • breaches in details stability and lapses in facts privacy as well as disruptions and other damages to our principal places of work, information technology functions and method networks and failure to maintain pace with developments in technological know-how may adversely effect our business functions, the gratification of our attendees and crew and may guide to reputational injury
  • the loss of vital workforce, our incapability to recruit or keep qualified shoreside and shipboard staff and improved labor prices could have an adverse outcome on our business and outcomes of functions
  • improves in fuel selling prices, modifications in the sorts of gasoline consumed and availability of gas offer may well adversely affect our scheduled itineraries and costs
  • we count on offer chain vendors who are integral to the functions of our firms. These vendors and service companies are also impacted by COVID-19 and could be unable to supply on their commitments which could influence our business
  • fluctuations in overseas currency trade premiums could adversely effect our money final results
  • overcapacity and opposition in the cruise and land-based mostly holiday vacation business could lead to a decline in our cruise product sales, pricing and spot solutions
  • lack of ability to apply our shipbuilding packages and ship repairs, upkeep and refurbishments may perhaps adversely influence our business operations and the fulfillment of our visitors and
  • the chance elements included in Carnival Corporation’s and Carnival plc’s Yearly Report on Kind 10-K filed with the SEC on January 27, 2022 and Carnival Corporation’s and Carnival plc’s Quarterly Report on Sort 10-Q submitted with the SEC on March 28, 2022.

The purchasing of the threat factors established forth over is not meant to mirror our indication of precedence or chance.

Forward-hunting statements ought to not be relied upon as a prediction of actual success. Issue to any continuing obligations under applicable regulation or any relevant inventory trade guidelines, we expressly disclaim any obligation to disseminate, right after the date of this doc, any updates or revisions to any these ahead-on the lookout statements to mirror any transform in anticipations or activities, problems or situation on which any these statements are centered. Forward-hunting and other statements in this doc may also tackle our sustainability development, plans, and targets (such as local climate modify and environmental-connected matters). In addition, historic, latest, and forward-on the lookout sustainability-relevant statements may perhaps be centered on specifications for measuring development that are even now creating, interior controls and processes that continue to evolve, and assumptions that are issue to transform in the upcoming.

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Source Carnival Corporation & plc

Carnival Corporation & plc Media Contacts: Roger Frizzell, Carnival Company, [email protected], (305) 406-7862 Mike Flanagan, LDWW, [email protected], (727) 452-4538 Carnival Corporation & plc Trader Relations Contact: Beth Roberts, Carnival Company, [email protected], (305) 406-4832