Carnival Corporation (NYSE:CCL) announced on Tuesday that the company priced its private offering of $1.25 billion aggregate principal amount of 5.125% senior unsecured notes due 2029.
The company expects to use the proceeds from the notes offering, together with cash on hand, to redeem its $2 billion 6.000% senior unsecured notes due 2029 after the closing of the notes offering.
The company said the transaction is a continuation of its strategy to reduce interest expense.
The notes offering is expected to close on October 15, 2025.
The notes will pay interest semi-annually on May 1 and November 1 of each year, beginning on May 1, 2026, at a rate of 5.125% per year. The notes will be unsecured and will mature on May 1, 2029, said the company.
