Carnival Corporation & plc has completed a private offering of $1 billion in senior unsecured notes. These notes carry an interest rate of 5.875% and are due in 2031. The company plans to use the net proceeds from this offering to redeem its existing $993 million senior unsecured notes, which have a higher interest rate of 7.625% and are due in 2026.
Paul, Weiss provided legal counsel to Carnival Corporation for this transaction. The team was led by corporate partners John Kennedy and Luke Jennings. It also included tax partner Brian Grieve, counsel Christina Cerrito, and executive compensation counsel Jake Glazeski.
