February 28, 2021


The travel folks

Carnival Corporation & plc Announces Closing of $3.5 Billion 5.75% Senior Unsecured Notes due 2027

6 min read

MIAMI, Feb. 16, 2021 /PRNewswire/ — Carnival Company & plc (NYSE/LSE: CCL NYSE: CUK) these days declared that Carnival Company (the “Company”) has closed its non-public supplying of $3.5 billion combination principal quantity of 5.75% senior unsecured notes because of 2027 (the “Unsecured Notes”).

The Corporation expects to use the internet proceeds from the presenting of the Unsecured Notes to make scheduled principal payments on personal debt through 2021 and for general company purposes, like, devoid of limitation, the financing or refinancing of a part of the obtain value, rental payments, expenses and bills related to sure of our latest and upcoming property, plant and tools (which include leased belongings and vessels) and their fix, alternative and improvements, as perfectly as any other payments related to our vessels’ prepared-for-sea expenditures, in every circumstance to the extent these kinds of quantities are not protected by the Corporation’s present and potential export credit rating amenities.

The Unsecured Notes had been presented only to individuals fairly believed to be competent institutional buyers in reliance on Rule 144A underneath the Securities Act of 1933, as amended (the “Securities Act”) and outside the house the United States, only to non-U.S. buyers pursuant to Regulation S less than the Securities Act. The Unsecured Notes will not be registered under the Securities Act or any condition securities legislation and might not be available or offered in the United States absent registration or an applicable exemption from the registration specifications of the Securities Act and applicable condition rules.

This press launch shall not constitute an supply to provide or a solicitation of an supply to invest in the Unsecured Notes or any other securities and shall not constitute an give, solicitation or sale in any jurisdiction in which this kind of an offer, solicitation or sale would be unlawful.

PJT Associates is serving as unbiased economical advisor to Carnival Company & plc.

About Carnival Company & plc

Carnival Company & plc is one particular of the world’s greatest leisure journey companies with a portfolio of nine of the world’s leading cruise strains. With operations in North The us, Australia, Europe and Asia, its portfolio features Carnival Cruise Line, Princess Cruises, Holland The united states Line, Seabourn, P&O Cruises (Australia), Costa Cruises, AIDA Cruises, P&O Cruises (Uk) and Cunard.

Cautionary Observe About Elements That May Affect Long run Success

Carnival Corporation and Carnival plc and their respective subsidiaries are referred to collectively in this press release as “Carnival Company & plc,” “our,” “us” and “we.” Some of the statements, estimates or projections contained in this push release are “ahead-searching statements” that entail challenges, uncertainties and assumptions with regard to us, which include some statements about the funding transactions explained herein, long term results, functions, outlooks, ideas, goals, standing, hard cash flows, liquidity and other situations which have not nevertheless occurred.  These statements are supposed to qualify for the safe and sound harbors from legal responsibility provided by Area 27A of the Securities Act and Section 21E of the Securities Trade Act of 1934.  All statements other than statements of historic details are statements that could be deemed forward-hunting.  These statements are dependent on present anticipations, estimates, forecasts and projections about our business enterprise and the business in which we run and the beliefs and assumptions of our management.  We have tried, whenever doable, to detect these statements by utilizing phrases like “will,” “may possibly,” “could,” “should,” “would,” “believe that,” “is dependent,” “assume,” “aim,” “foresee,” “forecast,” “project,” “future,” “intend,” “program,” “estimate,” “target,” “show,” “outlook” and identical expressions of long term intent or the negative of this sort of terms.

Ahead-hunting statements include those statements that relate to our outlook and money position together with, but not constrained to, statements concerning:

  • Pricing
  • Scheduling levels
  • Occupancy
  • Fascination, tax and fuel expenditures
  • Currency trade costs
  • Estimates of ship depreciable life and residual values
  • Goodwill, ship and trademark truthful values
  • Liquidity and credit score rankings
  • Altered earnings per share
  • Impression of the COVID-19 coronavirus world-wide pandemic on our financial affliction and benefits of operations

Since forward-hunting statements contain threats and uncertainties, there are a lot of things that could result in our precise benefits, functionality or achievements to vary materially from people expressed or implied by our forward-on the lookout statements.  This note consists of vital cautionary statements of the acknowledged things that we consider could materially affect the accuracy of our ahead-looking statements and adversely have an impact on our enterprise, final results of operations and economic placement.  In addition, quite a few of these threats and uncertainties are at present amplified by, and will carry on to be amplified by, or in the foreseeable future might be amplified by, the COVID-19 outbreak.  It is not feasible to forecast or determine all this sort of pitfalls.  There may be extra dangers that we think about immaterial or which are unfamiliar. 

These elements contain, but are not minimal to, the next:

  • COVID-19 has had, and is envisioned to continue to have, a considerable impression on our monetary situation and functions, which impacts our skill to obtain satisfactory funding to fund resulting reductions in dollars from functions. The recent, and uncertain upcoming, impression of the COVID-19 outbreak, which include its result on the capacity or motivation of men and women to journey (which include on cruises), is envisioned to continue to affect our success, operations, outlooks, strategies, aims, track record, litigation, income flows, liquidity, and stock price
  • As a outcome of the COVID-19 outbreak, we could be out of compliance with 1 or much more servicing covenants in particular of our financial debt facilities, for which we currently have amendments for the period as a result of November 30, 2021 with the future tests date of February 28, 2022
  • World situations impacting the means or drive of people to travel have and may possibly continue to lead to a decrease in desire for cruises
  • Incidents concerning our ships, friends or the cruise family vacation field as properly as adverse temperature disorders and other all-natural disasters have in the earlier and could, in the future, effects the pleasure of our company and crew and lead to reputational damage
  • Variations in and non-compliance with legal guidelines and restrictions under which we operate, this kind of as individuals relating to wellbeing, surroundings, security and protection, knowledge privateness and safety, anti-corruption, economic sanctions, trade security and tax have in the earlier and may well, in the future, lead to litigation, enforcement steps, fines, penalties, and reputational harm
  • Breaches in knowledge stability and lapses in data privateness as perfectly as disruptions and other damages to our principal workplaces, information and facts know-how functions and technique networks, which include the recent ransomware incidents, and failure to hold pace with developments in know-how may possibly adversely impact our enterprise functions, the fulfillment of our visitors and crew and may well direct to reputational hurt
  • Ability to recruit, establish and keep qualified shipboard personnel who live absent from house for prolonged periods of time may perhaps adversely impact our business enterprise operations, guest products and services and satisfaction
  • Boosts in fuel selling prices, variations in the types of gasoline consumed and availability of gas supply may adversely affect our scheduled itineraries and expenditures
  • Fluctuations in foreign forex exchange rates might adversely effect our money final results
  • Overcapacity and levels of competition in the cruise and land-based family vacation field may well guide to a decrease in our cruise product sales, pricing and location solutions and
  • Lack of ability to put into action our shipbuilding packages and ship repairs, servicing and refurbishments may adversely effects our business functions and the satisfaction of our friends.

The buying of the chance elements established forth higher than is not meant to mirror our sign of precedence or probability.

Ahead-wanting statements must not be relied on as a prediction of real results.  Issue to any continuing obligations underneath applicable legislation or any relevant stock exchange rules, we expressly disclaim any obligation to disseminate, just after the day of this doc, any updates or revisions to any these ahead-on the lookout statements to replicate any adjust in expectations or events, conditions or situation on which any these statements are primarily based.

Perspective original material:http://www.prnewswire.com/news-releases/carnival-company–plc-announces-closing-of-3-5-billion-5-75-senior-unsecured-notes-thanks-2027–301229068.html

Supply Carnival Company & plc

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

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