The company said it started a private offering of new senior unsecured notes due 2031 in an aggregate principal amount of $1.0 billion, with pricing and timing set on May 12, 2025.

1. 01

   The company said it started a private offering of new senior unsecured notes due 2031 in an aggregate principal amount of $1.0 billion, with pricing and timing set on May 12, 2025.

2. 02

   Carnival said it issued a conditional notice of redemption for the entire $993 million outstanding principal of its 7.625% senior unsecured notes due 2026, with redemption on May 22, 2025. The redemption price is 100.0% of principal, plus accrued and unpaid interest.

3. 03

   The company said the redemption of the notes due 2026 is conditioned on the closing of the new notes offering and that it plans to fund the redemption with the net proceeds from the new notes. It also stated that the press release itself is not a notice of redemption.

4. 04

   The company said it expects the refinancing to reduce interest expense and manage its future debt maturities, and that the new notes are expected to carry investment grade-style covenants. The new notes will be offered only to qualified institutional buyers under Rule 144A and to non-U.S. investors under Regulation S.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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