6th Aug 2020 10:48
(Alliance News) - Carnival PLC said Thursday it has priced its equity offering for shares at a price of USD14.02 per share to a limited number of holders of its 5.75% convertible senior notes due 2023.
The FTSE 250 cruise line operator will offer an aggregate of 99.2 million shares to the noteholders, the proceeds of which will go towards repurchasing from them the principal amount of USD885.6 million of its convertible notes.
On a net basis, Carnival will not receive any proceeds from the transactions and will pay fees and expenses connected to it. Following the note repurchases, an aggregate of USD1.13 billion of the convertible notes will remain outstanding.
Shares in Carnival were up 0.3% at 874.04 pence on Thursday in London.
Goldman Sachs is acting as the exclusive placement agent for the offering, while PJT Partners LP is acting as financial advisor.
The offering is expected to close on Friday, subject to customary closing conditions.
By Dayo Laniyan; [email protected]
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