Summary by Moomoo AI
On April 19, 2024, Carnival Corporation & plc announced the pricing of a private offering of €500 million in 5.75% senior unsecured notes due 2030, aimed at refinancing and reducing interest expenses. Concurrently, the company has secured commitments to reprice its senior secured term loan facilities maturing in 2027 and 2028. The proceeds from the notes offering, along with available cash, will be used to redeem €500 million 7.625% senior unsecured notes due 2026, leading to a nearly 2% reduction in interest expense. Additionally, Carnival Corporation plans to make partial prepayments of $500 million and $300 million on the 2028 and 2027 term loan facilities, respectively. These financial maneuvers are part of Carnival's ongoing efforts to reduce debt and interest expenses, which are expected to decrease net interest expense by over $30 million for the remainder...Show More