Jul 2025
Conyers advised Carnival Corporation in respect of its private offering of US$3 billion aggregate principal amount of 5.75% senior unsecured notes due 2032.
Carnival Corporation will use the net proceeds from the Notes Offering to fully repay the borrowings under Carnival Corporation’s first-priority senior secured term loan facility maturing in 2028, with remaining net proceeds, together with cash on hand, used to redeem $2.4 billion of the Company’s 5.750% senior unsecured notes due 2027. The transaction is a continuation of the Company’s strategy to deleverage, manage its future debt maturities and reduce secured debt.
Director Victor Richards, Senior Associate Alexis Haynes and Associate Joshua DeAllie of Conyers’ Bermuda office advised on this matter.