Carnival said on September 30, 2025 it commenced a private offering of new senior unsecured notes in an aggregate principal amount of $1.25 billion, expected to mature in 2029.

1. 01

   Carnival said on September 30, 2025 it commenced a private offering of new senior unsecured notes in an aggregate principal amount of $1.25 billion, expected to mature in 2029.

2. 02

   The company intends to use the proceeds from the new notes offering, 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.

3. 03

   Carnival said this current report and the press release do not constitute a notice of redemption with respect to the 2029 6.000% notes, and the company explained in the press release that it expects to reduce interest expense.

4. 04

   The company said the new notes will be offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and, outside the United States, only to non-U.S. investors pursuant to Regulation S under the Securities Act, will not be registered under the Securities Act, and the indenture that will govern the notes is expected to have investment grade-style covenants.

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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