Carnival Corp. (NYSE:CCL) has commenced a private offering of new senior unsecured notes in an aggregate principal amount of $1.25 billion, expected to mature in 2029.
The company intends to use the proceeds, together with cash on hand, to fully redeem its $2.0 billion 6.000% senior unsecured notes due 2029 after the closing of the notes offering, expecting to reduce interest expense.
The indenture that will govern the notes is expected to have investment grade-style covenants.
