Summary
Carnival Corporation & plc filed a Form 8-K on November 7, 2006, to report updated consolidated financial statements as of November 30, 2005 and 2004, and for the three years then ended. These financial statements have been adjusted to reflect a change in the company's dry-dock accounting policy and certain reclassifications for the 2005 and 2004 periods, as detailed in Note 2. The primary driver for this filing is to satisfy technical requirements for an upcoming Eurobond offering by Carnival plc, which will be guaranteed by Carnival Corporation. This offering is anticipated to launch soon, contingent upon favorable market conditions, and the securities will not be registered under the U.S. Securities Act of 1933.
Key Highlights
- 1Carnival Corporation & plc filed updated consolidated financial statements as of November 30, 2005 and 2004.
- 2The financial statements cover the three-year period ending November 30, 2005.
- 3A change in dry-dock accounting policy has been implemented and reflected in the financial statements.
- 4Certain reclassifications were made for the 2005 and 2004 fiscal years.
- 5The filing is related to a planned Carnival plc Eurobond offering, guaranteed by Carnival Corporation.
- 6The Eurobond offering is subject to market conditions and is expected to launch in the near future.
- 7The offered securities will not be registered under the U.S. Securities Act of 1933.
Frequently Asked Questions
The updated financial statements are being filed to meet technical requirements for a planned Carnival plc Eurobond offering, which is guaranteed by Carnival Corporation. These statements reflect changes in dry-dock accounting policy and certain reclassifications.
The Eurobond offering is a planned financing activity by Carnival plc, guaranteed by Carnival Corporation, to raise capital. The specific amount and terms are not detailed in this 8-K, but it is expected to launch in the near future, subject to market conditions.
The filing states that the securities offered in the Eurobond offering will not be registered under the U.S. Securities Act of 1933. They may not be offered or sold in the U.S. or to U.S. persons (other than distributors) unless registered or an exemption applies, suggesting a primary focus outside the U.S. market for this specific offering.
The filing mentions a change in Carnival Corporation & plc's dry-dock accounting policy. Further details regarding the nature of this change and its impact can be found in Note 2 to the consolidated financial statements filed as Exhibit 99.1.