18th Nov 2020 06:19
(Alliance News) - Carnival PLC late Tuesday said it will offer up to USD1.04 billion worth of shares to holders of its 5.75% convertible senior notes due 2023.
The cruise ship firm will offer 57.4 million shares at USD18.05 each. It will use the proceeds of the offering to repurchase USD499.4 million of the notes. Carnival noted that following the transactions, it will have USD627.5 million of convertible notes outstanding.
"On a net basis, the corporation will not receive any proceeds from the transactions and will pay customary fees and expenses in connection therewith. Therefore, the transactions will not have a material impact on the corporation's cash position," Carnival added.
Carnival shares closed 2.7% higher at USD18.05 each in New York on Tuesday. After hours, they shed 0.9%.
By Eric Cunha; [email protected]
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