Summary
Carnival Corporation (CCL) announced the pricing of a significant debt offering by its subsidiary, Carnival plc. The company priced Euro 750,000,000 of 4.25% Guaranteed Bonds due 2013. This offering represents a strategic move to refinance existing commercial paper and provide funds for general corporate and working capital needs, indicating a focus on optimizing its capital structure and ensuring liquidity. The bonds, which will be guaranteed by Carnival Corporation, are expected to close on November 27, 2006, and will be listed on the London Stock Exchange, signaling international market engagement.
Key Highlights
- 1Carnival plc priced a Euro 750 million offering of 4.25% Guaranteed Bonds due 2013.
- 2The Bonds are guaranteed by the parent company, Carnival Corporation.
- 3The primary purpose of the offering is to refinance outstanding commercial paper.
- 4Net proceeds will also be used for general corporate and working capital purposes.
- 5The offering is expected to close on November 27, 2006.
- 6The Bonds will be listed on the London Stock Exchange.
- 7Interest will be paid annually in arrears.
Frequently Asked Questions
The primary purpose is to refinance Carnival plc's outstanding commercial paper. Additionally, the proceeds will be used for general corporate and working capital purposes, aiming to strengthen the company's financial flexibility.
Carnival plc is issuing the bonds, and the parent company, Carnival Corporation, is guaranteeing them. This guarantee provides an additional layer of security for bondholders.
No, the bonds are not registered under the U.S. Securities Act of 1933 and may not be offered or sold in the U.S. or to U.S. persons unless specific registration or exemption requirements are met. The offering is focused on international markets.
The bonds have a coupon rate of 4.25% and mature in 2013. Interest payments will be made annually in arrears.