20th Nov 2020 06:29
(Alliance News) - Carnival PLC on Thursday priced an equity issue which the cruise ship firm said will go towards paying back some holders of convertible senior notes due in 2023.
Carnival will offer 10.4 million shares at USD17.59 each, which would net the company USD182.9 million in total.
In New York, Carnival shares closed 3.4% higher at USD18.19 each on Thursday, but shed 1.3% after hours. In London, they closed down 2.3% on Thursday at 1,172.50 pence.
"The corporation intends to use the proceeds from the offering to repurchase from such holders an aggregate of USD90.8 million principal amount of its convertible notes in privately negotiated transactions," Carnival added.
The notes carry a 5.75% interest rate and are due in 2023. Following the purchases, a total of USD536.7 million convertible notes will be outstanding.
By Eric Cunha; [email protected]
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