Business

Carnival Corp. announces offering of $1.25 billion of high-yield bonds due 2028- Newshubweek

Airline stocks fall even as July 4 weekend travelers reach pandemic-era highs
Written by Arindam

Carnival Corp. & plc
CCL,
+11.07%
said Tuesday that its Carnival Holdings (Bermuda) Ltd. has commenced an offering of $1.25 billion of senior priority high-yield bonds that mature in 2028. Proceeds will be used to make principal payments on debt and for general corporate purposes. As part of the deal, the company and subsidiaries will contribute 12 unencumbered vessels to Carnival Bermuda which will continue to be operated under of the company’s Carnival plc’s or another unit’s brands. Shares were up 3.6% premarket, but have fallen 64% in the year to date, while the S&P 500
SPX,
+0.59%
has fallen 23%.

About the author

Arindam

Leave a Comment