leadf
logo-loader
viewCarnival Corporation

Carnival launches equity offering to pay back notes

The cruise giant will not receive any cash but will have to pay the relevant fees and expenses

Carnival Corporation - Carnival launches equity offering to pay back notes

Carnival Corporation & PLC (NYSE:CCL)(LON:CCL) said the US arm has launched a registered direct offering to pay back convertible senior notes.

It is offering 57mln shares of its common stock at a price of US$18.05 each, a 3% premium to Tuesday’s closing price of US$17.57, to a limited number of holders of its 5.75% notes due 2023.

The cruise giant will use the proceeds to buy back from these holders US$499mln principal amount of its notes in privately negotiated transactions, while US$627mln will remain outstanding.

As a result, Carnival will not receive any cash from these transactions but will have to pay the relevant fees and expenses.

The move is not expected to impact the travel firm’s cash position.

Shares shed 2% to 1,190p on Wednesday morning.

--Adds shares--

Quick facts: Carnival Corporation

Price: 20.65 USD

NYSE:CCL
Market: NYSE
Market Cap: $22.58 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

PyroGenesis Canada to supply plasma torch for $1.8M with major iron ore producer

PyroGenesis Canada Inc (CVE:PYR) (OTCQB:PYRNF) (FRA:8PY) CEO Peter Pascali tells Proactive the group has signed an initial contract to provide a high-powered, one-megawatt plasma torch with accessories to a major iron ore producer for around $1.8 million. Pascali says the Montreal-based...

15 hours, 11 minutes ago

2 min read