Summary by Moomoo AI
Carnival Corporation & plc successfully closed a private offering of €500 million 5.75% senior unsecured notes due 2030, with the proceeds aimed at redeeming €500 million 7.625% senior unsecured notes due 2026, resulting in nearly 2% interest expense reduction. The redemption is scheduled for April 26, 2024. Concurrently, the company repriced approximately $1.75 billion of 2028 first-priority senior secured term loans and $1 billion of 2027 first-priority senior secured term loans, leading to a partial prepayment of $800 million under its Senior Secured First Lien Term Loan B Facilities. These strategic financial moves 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 of 2024 and by over $50 million annually. The notes will pay annual interest starting...Show More