8th Oct 2021 15:12
(Alliance News) - Carnival PLC on Friday announced a new loan facility to be used for refinancing, which will save the company over USD135 million.
The Miami-based cruise ship operator said it had the syndication of its USD2.3 billion first-priority senior secured term loan facility which will be used to redeem its 11.5% first priority senior secured notes due 2023.
Carnival also issued a conditional notice of redemption for the entire outstanding principal amount of the company's 2023 Notes.
The new term loan facility will mature in 2028. The refinancing transaction will generate annual interest savings of over USD135 million and extend maturities, Carnival noted.
JPMorgan Chase Bank NA acted as sole global coordinator for the marketing of the term loan facility.
Carnival shares were down 2.1% to 1,626.00 pence each in London on Friday afternoon.
By Greg Roxburgh; [email protected]
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