#United States #Miami #Carnival Corporation #Financial Strategies #New Notes Offering

Carnival Corporation Launches New Senior Unsecured Notes Offering

In a significant move to fortify its financial standing, Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) has announced the initiation of a private offering for new senior unsecured notes. This offering is designed to accumulate an aggregate principal amount of €1.0 billion, with an expected maturity in 2031. The funds raised from this offering are intended to repay existing borrowings under the company's first-priority senior secured term loans that are set to mature in 2027 and 2028.

This strategic financial maneuver signifies Carnival's commitment to maintaining a robust operational framework, thereby enhancing its capacity for future investments and opportunities in the leisure travel sector. Notably, the indenture governing the new notes is expected to include investment-grade style covenants, which reflect a prudent approach to debt management.

The offering is targeted exclusively at individuals classified as qualified institutional buyers, conforming to Rule 144A under the Securities Act of 1933. Outside of the U.S., the notes will be offered only to non-U.S. investors under Regulation S of the Securities Act. It is essential to highlight that these notes will not be registered under the Securities Act or state securities laws, limiting their offer and sale in the U.S. without appropriate registration or exemption.

This initiative is part of Carnival Corporation's overarching strategy to optimize its financial structure, ensuring sustainability and resilience in a competitive market. This focus on strengthening capital underscores the company's commitment to navigating the challenges posed by an evolving tourism landscape and to respond effectively to market dynamics.

About Carnival Corporation & plc
As the leading global cruise company, Carnival Corporation maintains a premier portfolio of cruise lines, which includes renowned brands such as AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, PO Cruises, Princess Cruises, and Seabourn. The company is dedicated to offering exceptional leisure travel experiences while ensuring financial stability and operational excellence.

Forward-Looking Statements
It is crucial for investors and stakeholders to be aware that some statements within this announcement may constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements relate to the company's financing transactions, future operations, liquidity, and other factors that could influence performance outcomes significantly. Management's expectations and projections come with inherent risks and uncertainties, which could lead actual performance to diverge from those anticipated. Interested parties are encouraged to consult the latest annual report on Form 10-K and other filings accessible on the Investor Relations page of Carnival’s website or the SEC's official site for further details.

Conclusion
Carnival Corporation’s launch of this new offering reflects its proactive approach to financial management as it seeks to fortify its position in the leisure travel sector amidst fluctuating market conditions. This move not only aims to manage debt but also positions the company favorably for future growth opportunities as it continues to evolve in a dynamic industry.