17th Aug 2020 09:15
(Alliance News) - Carnival PLC on Monday said it intends to raise USD900 million via a note offering, as the British-American cruise operator struggles to stay afloat amid cancellations and delays to several of the company's voyages due to the coronavirus pandemic.
The company has priced a private offering of USD900 million of 9.875% second-priority senior secured notes due 2027.
The note offering is expected to close on Tuesday, with the proceeds being used by the company for general corporate purposes.
The notes will pay interest semi-annually on February 1 and August 1 of each year, beginning on February 1, 2021, at a rate of 9.875% per year. The notes will mature on August 1, 2027.
Shares in the FTSE 250-listed company were down 3.1% at 948.40 pence each in London on Monday morning.
By Tapan Panchal; [email protected]
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