Carnival (CCL, CUK) said Tuesday it has launched a private offering of $2 billion in new senior unsecured notes maturing in 2033 to refinance Carnival Holdings' $2.03 billion of existing 10.375% senior priority notes due 2028.
The company said it expects the move to reduce interest expenses, streamline its capital structure, and manage debt maturities.
The existing notes are set for redemption around Feb. 7, contingent on the completion of the new notes offering, Carnival said, adding that it intends to use the net proceeds from the offering and cash on hand to fund the redemption.
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