Carnival Corporation & plc Announces Upsizing and Pricing of $2.0 Billion Senior Unsecured Notes due 2029, Funding Upcoming Debt Maturities

MIAMI, Oct. 19, 2021 /PRNewswire/ — Carnival Corporation & plc (NYSE/LSE: CCL NYSE: CUK) currently declared that Carnival Corporation (the “Firm”) has priced the private giving of $2. billion combination principal amount of 6.000% senior unsecured notes because of 2029 (the “Senior Unsecured Notes”). The mixture principal total of Senior Unsecured Notes to be issued was amplified to $2. billion. The featuring of the Senior Unsecured Notes is predicted to near on November 2, 2021, subject matter to customary closing situations.

The Senior Unsecured Notes will shell out curiosity semi-yearly on Might 1 and November 1 of just about every 12 months, commencing on Could 1, 2022, at a price of 6.000% for every 12 months and are callable commencing November 1, 2024. The Senior Unsecured Notes will be unsecured and will experienced on May 1, 2029.

The Senior Unsecured Notes will be thoroughly and unconditionally guaranteed on an unsecured foundation, jointly and severally, by Carnival plc and specified of the Company’s and Carnival plc’s subsidiaries that own or function our vessels and content mental assets and that guarantee certain of the Company’s very first-precedence secured indebtedness and next-priority secured indebtedness.

The Company expects to use the web proceeds from the presenting of the Senior Unsecured Notes to make scheduled principal payments on financial debt through 2022 and for normal corporate functions, together with, with out limitation, producing repayments of our indebtedness, the financing or refinancing of a part of the buy value, rental payments, fees and bills associated to specified of our present-day and foreseeable future property, plant and devices (together with leased belongings and vessels) and their upkeep, restore, alternative and improvements, as well as any other payments connected to our vessels’ ready-for-sea charges, in every circumstance to the extent these types of quantities are not coated by the Company’s current and upcoming export credit facilities.

The Senior Unsecured Notes are currently being available only to folks fairly believed to be qualified institutional customers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States, only to non-U.S. buyers pursuant to Regulation S underneath the Securities Act.

The Senior Unsecured Notes will not be registered underneath the Securities Act or any condition securities legislation and may possibly not be made available or offered in the United States absent registration or an applicable exemption from the registration necessities of the Securities Act and applicable state legal guidelines.

This push release shall not represent an offer to promote or a solicitation of an provide to purchase the Senior Unsecured Notes or any other securities and shall not represent an offer, solicitation or sale in any jurisdiction in which this kind of offer, solicitation or sale would be unlawful.

PJT Companions is serving as unbiased economical advisor to Carnival Corporation & plc.

About Carnival Corporation & plc

Carnival Corporation & plc is a single of the world’s greatest leisure travel corporations with a portfolio of nine of the world’s primary cruise strains. With functions in North The united states, 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 (British isles) and Cunard.

Cautionary Observe About Elements That May possibly Have an effect on Future Final results

Carnival Corporation and Carnival plc and their respective subsidiaries are referred to collectively in this push launch as “Carnival Corporation & plc,” “our,” “us” and “we.” Some of the statements, estimates or projections contained in this push release are “forward-hunting statements” that entail hazards, uncertainties and assumptions with respect to us, which includes some statements relating to the financing transactions explained herein, long term effects, functions, outlooks, options, objectives, name, dollars flows, liquidity and other situations which have not however happened. These statements are supposed to qualify for the safe and sound harbors from legal responsibility supplied by Portion 27A of the Securities Act and Area 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical info are statements that could be deemed ahead-on the lookout.  These statements are based mostly on existing expectations, estimates, forecasts and projections about our business and the field in which we operate and the beliefs and assumptions of our administration. We have tried using, each time probable, to recognize these statements by working with text like “will,” “may well,” “could,” “really should,” “would,” “think,” “is dependent,” “be expecting,” “goal,” “anticipate,” “forecast,” “job,” “future,” “intend,” “system,” “estimate,” “focus on,” “indicate,” “outlook” and very similar expressions of upcoming intent or the unfavorable of such conditions.

Ahead-looking statements contain individuals statements that relate to our outlook and monetary posture together with, but not confined to, statements with regards to:

  • Pricing
  • Scheduling levels
  • Occupancy
  • Desire, tax and gasoline costs
  • Forex trade costs
  • Estimates of ship depreciable life and residual values
  • Goodwill, ship and trademark fair values
  • Liquidity and credit rating rankings
  • Altered earnings per share
  • Return to guest cruise functions
  • Effects of the COVID-19 coronavirus worldwide pandemic on our economic condition and results of operations

Because ahead-wanting statements include pitfalls and uncertainties, there are several aspects that could induce our genuine results, efficiency or achievements to vary materially from those people expressed or implied by our ahead-searching statements. This note contains vital cautionary statements of the regarded aspects that we consider could materially impact the precision of our forward-hunting statements and adversely affect our business, success of functions and monetary place. Also, lots of of these threats and uncertainties are presently amplified by and will go on to be amplified by, or in the future may be amplified by, the COVID-19 outbreak. It is not feasible to predict or identify all these dangers. There might be additional risks that we look at immaterial or which are mysterious. 

These variables include things like, but are not constrained to, the next:

  • COVID-19 has experienced, and is predicted to carry on to have, a major effects on our economic situation and operations, which impacts our means to get suitable financing to fund ensuing reductions in money from functions. The current, and unsure potential, affect of the COVID-19 outbreak, together with its result on the capacity or want of people today to vacation (which includes on cruises), is envisioned to go on to impact our final results, functions, outlooks, strategies, objectives, name, litigation, money flows, liquidity, and inventory price
  • Earth gatherings impacting the means or need of folks to journey have and may perhaps proceed to guide to a decrease in need for cruises
  • Incidents relating to our ships, attendees or the cruise trip marketplace as effectively as adverse weather problems and other all-natural disasters have in the earlier and may possibly, in the future, affect the gratification of our visitors and crew and direct to reputational injury
  • Alterations in and non-compliance with regulations and rules less than which we operate, these kinds of as those people relating to overall health, atmosphere, basic safety and protection, details privacy and defense, anti-corruption, financial sanctions, trade defense and tax have in the earlier and may well, in the potential, lead to litigation, enforcement steps, fines, penalties, and reputational harm
  • Breaches in details stability and lapses in info privacy as very well as disruptions and other damages to our principal workplaces, info technology operations and program networks, including the recent ransomware incidents, and failure to preserve pace with developments in engineering might adversely influence our business functions, the gratification of our company and crew and might lead to reputational harm
  • Means to recruit, develop and keep experienced shipboard personnel who are living away from property for extended periods of time may possibly adversely effect our business functions, visitor solutions and gratification
  • Raises in gas prices, variations in the kinds of gasoline eaten and availability of gasoline supply could adversely effect our scheduled itineraries and charges
  • Fluctuations in overseas currency trade prices may perhaps adversely effect our economical success
  • Overcapacity and level of competition in the cruise and land-based mostly family vacation field may lead to a decrease in our cruise product sales, pricing and destination solutions
  • Lack of ability to put into action our shipbuilding courses and ship repairs, upkeep and refurbishments may perhaps adversely impression our business operations and the pleasure of our guests and
  • The possibility elements incorporated in Carnival Corporation’s and Carnival plc’s Yearly Report on Variety 10-K submitted with the SEC on January 26, 2021 and Carnival Corporation’s and Carnival plc’s Quarterly Reviews on Kind 10-Q submitted with the SEC on April 7, 2021, June 28, 2021 and September 30, 2021.

The purchasing of the threat factors set forth above is not intended to mirror our indicator of precedence or probability.

Forward-seeking statements need to not be relied upon as a prediction of true results. Subject to any continuing obligations below relevant regulation or any appropriate stock trade rules, we expressly disclaim any obligation to disseminate, following the date of this doc, any updates or revisions to any these ahead-on the lookout statements to replicate any transform in expectations or situations, situations or conditions on which any these kinds of statements are based.

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Source Carnival Corporation & plc

Roger Frizzell, Carnival Corporation, [email protected], (305) 406-7862 Mike Flanagan, LDWW, [email protected], (727) 452-4538