PANAMA (dpa-AFX) - Cruise company Carnival Corp. & Plc (CCL, CUK, CCL.L)
announced Monday that it has priced its private offering of 500 million euros
aggregate principal amount of 5.75% senior unsecured notes due 2030.

The company expects to use the net proceeds from the Notes Offering, together
with cash on hand, to redeem its 500 million euros 7.625% senior unsecured notes
due 2026. This would result in a reduction in interest expense on this
outstanding debt of nearly 2%.

In addition, Carnival said it has received commitments from lenders to reprice
its first-priority senior secured term loan facility maturing in 2028 and its
first-priority senior secured term loan facility maturing in 2027.

As part of the Repricing Transaction, the company would make a partial
prepayment of $500 million under the 2028 Secured Term Loan Facility and a
partial prepayment of $300 million under the 2027 Secured Term Loan Facility.

These are part of the firm's ongoing debt and interest expense reduction and
capital structure simplification.

Together, the reduction in both interest rates and total debt is expected to
result in a reduction of net interest expense of over $30 million for the
remainder of 2024 and over $50 million on an annualized basis.

The Notes Offering and Repricing Transaction are expected to close on April 25,
subject to customary closing conditions and the execution of definitive
documentation.

The previously announced redemption of the 2026 Euro Unsecured Notes would occur
on April 26 and is conditioned on the closing of the Notes Offering.



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