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Carnival Closes $3 Billion Private Offering of Notes

BY MT Newswires | CORPORATE | 07/16/25 04:38 PM EDT

04:38 PM EDT, 07/16/2025 (MT Newswires) -- Carnival (CUK, CCL) said late Wednesday it closed a $3 billion private offering of 5.75% senior unsecured notes due 2032.

Proceeds will be used to fully repay the company's 2028 senior secured term loan, with remaining funds and cash on hand to redeem $2.4 billion of 5.75% senior unsecured notes due 2027.

Carnival said it issued a conditional notice to redeem the 2027 notes effective Thursday, and confirmed that the condition for redemption was satisfied upon closing of the new offering.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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