STOCK TITAN

[8-K] Carnival Corporation Reports Material Event

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

Carnival Corporation & plc (NYSE: CCL) filed an 8-K on 7 July 2025 under Item 7.01 (Regulation FD) to disclose a planned private offering of US$2.0 billion senior unsecured notes maturing in 2032. The transaction is designed to fully repay the company’s first-priority senior secured term loan facility maturing in 2028. Any remaining proceeds, together with cash on hand, will be used to partially redeem Carnival’s outstanding 5.750% senior unsecured notes due 2027. The redemption is expressly conditioned upon the successful closing of the new notes offering.

The filing indicates that the information is being furnished—not filed—under Reg FD, thereby limiting Section 18 liability and precluding automatic incorporation into other SEC filings. No pricing, coupon, or other terms of the new notes were disclosed in the 8-K. A detailed press release (Exhibit 99.1) is incorporated by reference and contains the usual forward-looking-statement caveats.

Key investor takeaways:

  • Amount: US$2.0 billion senior unsecured notes (private placement).
  • Maturity: 2032—extends debt tenor by roughly four years relative to the 2028 term loan being retired.
  • Use of proceeds: 100% repayment of 2028 secured term loan; residual funds plus cash to retire part of 2027 unsecured notes.
  • Conditionality: Redemption of 2027 notes hinges on successful closing of the new offering.
  • Strategic effect: Replaces secured debt with unsecured debt and smooths near-term maturities, potentially improving collateral flexibility and liquidity.

Carnival Corporation & plc (NYSE: CCL) ha presentato un modulo 8-K il 7 luglio 2025 ai sensi della voce 7.01 (Regolamento FD) per comunicare un offerta privata pianificata di note senior non garantite per un valore di 2,0 miliardi di dollari con scadenza nel 2032. L’operazione è finalizzata a rimborsare integralmente il prestito a termine senior garantito di prima priorità della società, in scadenza nel 2028. Eventuali proventi residui, insieme alla liquidità disponibile, saranno utilizzati per riscattare parzialmente le note senior non garantite in circolazione al 5,750% con scadenza 2027. Il riscatto è espressamente subordinato al successo della chiusura dell’offerta delle nuove note.

Il deposito indica che le informazioni sono fornite — non depositate — ai sensi del Regolamento FD, limitando così la responsabilità ai sensi della Sezione 18 e impedendo l’incorporazione automatica in altri documenti SEC. Nel modulo 8-K non sono stati divulgati prezzi, cedole o altri termini delle nuove note. Un comunicato stampa dettagliato (Allegato 99.1) è incorporato per riferimento e contiene le consuete avvertenze sulle dichiarazioni previsionali.

Punti chiave per gli investitori:

  • Importo: 2,0 miliardi di dollari in note senior non garantite (collocamento privato).
  • Scadenza: 2032 — estende la durata del debito di circa quattro anni rispetto al prestito a termine 2028 che verrà estinto.
  • Utilizzo dei proventi: rimborso totale del prestito a termine garantito 2028; fondi residui più liquidità per il riscatto parziale delle note non garantite 2027.
  • Condizionalità: il riscatto delle note 2027 dipende dal successo della chiusura della nuova offerta.
  • Effetto strategico: sostituisce debito garantito con debito non garantito e diluisce le scadenze a breve termine, migliorando potenzialmente la flessibilità del collaterale e la liquidità.

Carnival Corporation & plc (NYSE: CCL) presentó un formulario 8-K el 7 de julio de 2025 bajo el ítem 7.01 (Regulación FD) para revelar una oferta privada planificada de notas senior no garantizadas por US$2.0 mil millones con vencimiento en 2032. La transacción está diseñada para reembolsar completamente la línea de préstamo a término senior garantizado de primera prioridad de la compañía, que vence en 2028. Los ingresos restantes, junto con el efectivo disponible, se utilizarán para redimir parcialmente las notas senior no garantizadas pendientes al 5.750% con vencimiento en 2027. La redención está expresamente condicionada al cierre exitoso de la nueva oferta de notas.

El documento indica que la información se está proporcionando — no presentando — bajo la Regulación FD, limitando así la responsabilidad bajo la Sección 18 y evitando la incorporación automática en otros archivos de la SEC. No se divulgaron precios, cupones u otros términos de las nuevas notas en el 8-K. Un comunicado de prensa detallado (Anexo 99.1) está incorporado por referencia y contiene las habituales advertencias sobre declaraciones prospectivas.

Puntos clave para inversores:

  • Monto: US$2.0 mil millones en notas senior no garantizadas (colocación privada).
  • Vencimiento: 2032 — extiende el plazo de la deuda aproximadamente cuatro años respecto al préstamo a término 2028 que se está reembolsando.
  • Uso de los ingresos: reembolso total del préstamo a término garantizado 2028; fondos residuales más efectivo para redimir parcialmente las notas no garantizadas 2027.
  • Condicionalidad: la redención de las notas 2027 depende del cierre exitoso de la nueva oferta.
  • Efecto estratégico: reemplaza deuda garantizada por deuda no garantizada y suaviza los vencimientos a corto plazo, mejorando potencialmente la flexibilidad del colateral y la liquidez.

Carnival Corporation & plc (NYSE: CCL)는 2025년 7월 7일, 항목 7.01(Regulation FD)에 따라 8-K를 제출하여 2032년 만기인 20억 달러 규모의 선순위 무담보 채권의 사모 발행 계획을 공시했습니다. 이 거래는 2028년 만기인 회사의 최우선 선순위 담보 대출을 전액 상환하기 위해 설계되었습니다. 남은 수익금과 현금은 2027년 만기 5.750% 선순위 무담보 채권의 일부 상환에 사용될 예정입니다. 상환은 새로운 채권 발행의 성공적인 마감에 명시적으로 조건부로 이루어집니다.

공시 문서에는 해당 정보가 Regulation FD에 따라 제공(furnished)되었으며 제출(filed)된 것은 아니라고 명시되어 있어, 섹션 18의 책임이 제한되고 다른 SEC 제출 문서에 자동으로 통합되는 것을 방지합니다. 8-K에서는 새 채권의 가격, 이자율 또는 기타 조건이 공개되지 않았습니다. 자세한 보도자료(첨부문서 99.1)가 참조 문서로 포함되어 있으며, 통상적인 미래예측진술 경고문을 포함하고 있습니다.

투자자 주요 사항:

  • 금액: 20억 달러 규모의 선순위 무담보 채권(사모 발행).
  • 만기: 2032년 — 상환 예정인 2028년 만기 대출보다 약 4년 연장.
  • 수익금 사용: 2028년 담보 대출 전액 상환; 잔여 금액과 현금으로 2027년 무담보 채권 일부 상환.
  • 조건: 2027년 채권 상환은 새로운 발행의 성공적 마감에 달려 있음.
  • 전략적 효과: 담보부 부채를 무담보 부채로 대체하고 단기 만기 일정을 완화하여 담보 유연성과 유동성을 향상시킬 가능성.

Carnival Corporation & plc (NYSE: CCL) a déposé un formulaire 8-K le 7 juillet 2025 en vertu de l’article 7.01 (Règlement FD) pour divulguer une offre privée prévue de billets senior non garantis d’un montant de 2,0 milliards de dollars américains arrivant à échéance en 2032. La transaction vise à rembourser intégralement la facilité de prêt à terme senior garanti de première priorité de la société, arrivant à échéance en 2028. Les produits restants, ainsi que la trésorerie disponible, seront utilisés pour rembourser partiellement les billets senior non garantis en circulation au taux de 5,750 % arrivant à échéance en 2027. Le remboursement est expressément conditionné à la clôture réussie de la nouvelle émission de billets.

Le dépôt indique que les informations sont fournies — et non déposées — en vertu du Règlement FD, limitant ainsi la responsabilité selon la Section 18 et empêchant l’incorporation automatique dans d’autres dépôts auprès de la SEC. Aucun prix, coupon ou autre terme des nouveaux billets n’a été divulgué dans le 8-K. Un communiqué de presse détaillé (Annexe 99.1) est incorporé par référence et contient les avertissements habituels concernant les déclarations prospectives.

Points clés pour les investisseurs :

  • Montant : 2,0 milliards de dollars américains en billets senior non garantis (placement privé).
  • Échéance : 2032 — prolonge la durée de la dette d’environ quatre ans par rapport au prêt à terme 2028 qui sera remboursé.
  • Utilisation des produits : remboursement intégral du prêt à terme garanti 2028 ; fonds résiduels plus trésorerie pour rembourser partiellement les billets non garantis 2027.
  • Conditionnalité : le remboursement des billets 2027 dépend de la clôture réussie de la nouvelle émission.
  • Effet stratégique : remplace la dette garantie par de la dette non garantie et lisse les échéances à court terme, améliorant potentiellement la flexibilité des garanties et la liquidité.

Carnival Corporation & plc (NYSE: CCL) reichte am 7. Juli 2025 eine 8-K-Meldung unter Punkt 7.01 (Regulation FD) ein, um ein geplantes privates Angebot von 2,0 Milliarden US-Dollar unbesicherten vorrangigen Schuldverschreibungen mit Fälligkeit 2032 offenzulegen. Die Transaktion soll die vorrangige besicherte Terminkreditfazilität des Unternehmens mit Fälligkeit 2028 vollständig zurückzahlen. Etwaige verbleibende Erlöse sowie vorhandene Barmittel werden verwendet, um teilweise die ausstehenden 5,750% unbesicherten vorrangigen Schuldverschreibungen von Carnival mit Fälligkeit 2027 zurückzuzahlen. Die Rückzahlung ist ausdrücklich an den erfolgreichen Abschluss des neuen Anleiheangebots gebunden.

Die Einreichung weist darauf hin, dass die Informationen gemäß Regulation FD bereitgestellt – nicht eingereicht – werden, wodurch die Haftung nach Abschnitt 18 begrenzt und eine automatische Einbeziehung in andere SEC-Einreichungen ausgeschlossen wird. Im 8-K wurden keine Preise, Kupons oder sonstigen Bedingungen der neuen Schuldverschreibungen bekanntgegeben. Eine ausführliche Pressemitteilung (Anlage 99.1) ist durch Verweis eingebunden und enthält die üblichen Hinweise zu zukunftsgerichteten Aussagen.

Wesentliche Informationen für Investoren:

  • Betrag: 2,0 Milliarden US-Dollar unbesicherte vorrangige Schuldverschreibungen (Privatplatzierung).
  • Fälligkeit: 2032 – verlängert die Laufzeit der Schulden um etwa vier Jahre im Vergleich zum 2028 fälligen Terminkredit, der zurückgezahlt wird.
  • Verwendung der Erlöse: 100 % Rückzahlung des besicherten Terminkredits 2028; verbleibende Mittel plus Bargeld zur teilweisen Rückzahlung der unbesicherten Schuldverschreibungen 2027.
  • Bedingung: Die Rückzahlung der Schuldverschreibungen 2027 ist an den erfolgreichen Abschluss des neuen Angebots gebunden.
  • Strategische Wirkung: Ersetzt besicherte Schulden durch unbesicherte Schulden und glättet die kurzfristigen Fälligkeiten, was die Flexibilität der Sicherheiten und die Liquidität potenziell verbessert.
Positive
  • Extends debt maturity from 2028 to 2032, reducing near-term refinancing risk.
  • Replaces secured debt with unsecured debt, freeing collateral and improving balance-sheet flexibility.
  • Plans partial redemption of 5.750% notes due 2027, further smoothing the maturity schedule.
Negative
  • No coupon or pricing information disclosed, leaving the ultimate cost of capital unknown.
  • Redemption of 2027 notes is only partial and conditional, so some near-term debt pressure remains.

Insights

TL;DR: $2 bn unsecured notes refinance nearer-term debt, lengthening maturity profile—credit-positive.

The shift from a first-priority secured term loan to unsecured notes reduces collateral encumbrance and pushes Carnival’s nearest major maturity from 2028 to 2032. Assuming market demand, the deal should bolster liquidity and lessen refinancing pressure in a period when cruise demand recovery remains in flux. Although pricing is absent, market appetite for high-yield travel names has recently improved, suggesting the company can transact without materially higher coupons. The partial redemption of 2027 notes further flattens the maturity wall. Overall, the move is strategically positive for credit quality and flexibility.

TL;DR: Positive liquidity move, but unknown coupon could raise carrying cost—impact uncertain.

While extending maturities lowers short-term default risk, investors lack visibility on the new notes’ pricing, covenants, and investor protections. An above-market coupon would offset the benefit of retiring the secured term loan, potentially increasing overall interest expense. The redemption of 2027 notes is only partial and contingent on closing, so near-term maturities are reduced but not eliminated. The transaction’s net credit effect therefore hinges on final terms.

Carnival Corporation & plc (NYSE: CCL) ha presentato un modulo 8-K il 7 luglio 2025 ai sensi della voce 7.01 (Regolamento FD) per comunicare un offerta privata pianificata di note senior non garantite per un valore di 2,0 miliardi di dollari con scadenza nel 2032. L’operazione è finalizzata a rimborsare integralmente il prestito a termine senior garantito di prima priorità della società, in scadenza nel 2028. Eventuali proventi residui, insieme alla liquidità disponibile, saranno utilizzati per riscattare parzialmente le note senior non garantite in circolazione al 5,750% con scadenza 2027. Il riscatto è espressamente subordinato al successo della chiusura dell’offerta delle nuove note.

Il deposito indica che le informazioni sono fornite — non depositate — ai sensi del Regolamento FD, limitando così la responsabilità ai sensi della Sezione 18 e impedendo l’incorporazione automatica in altri documenti SEC. Nel modulo 8-K non sono stati divulgati prezzi, cedole o altri termini delle nuove note. Un comunicato stampa dettagliato (Allegato 99.1) è incorporato per riferimento e contiene le consuete avvertenze sulle dichiarazioni previsionali.

Punti chiave per gli investitori:

  • Importo: 2,0 miliardi di dollari in note senior non garantite (collocamento privato).
  • Scadenza: 2032 — estende la durata del debito di circa quattro anni rispetto al prestito a termine 2028 che verrà estinto.
  • Utilizzo dei proventi: rimborso totale del prestito a termine garantito 2028; fondi residui più liquidità per il riscatto parziale delle note non garantite 2027.
  • Condizionalità: il riscatto delle note 2027 dipende dal successo della chiusura della nuova offerta.
  • Effetto strategico: sostituisce debito garantito con debito non garantito e diluisce le scadenze a breve termine, migliorando potenzialmente la flessibilità del collaterale e la liquidità.

Carnival Corporation & plc (NYSE: CCL) presentó un formulario 8-K el 7 de julio de 2025 bajo el ítem 7.01 (Regulación FD) para revelar una oferta privada planificada de notas senior no garantizadas por US$2.0 mil millones con vencimiento en 2032. La transacción está diseñada para reembolsar completamente la línea de préstamo a término senior garantizado de primera prioridad de la compañía, que vence en 2028. Los ingresos restantes, junto con el efectivo disponible, se utilizarán para redimir parcialmente las notas senior no garantizadas pendientes al 5.750% con vencimiento en 2027. La redención está expresamente condicionada al cierre exitoso de la nueva oferta de notas.

El documento indica que la información se está proporcionando — no presentando — bajo la Regulación FD, limitando así la responsabilidad bajo la Sección 18 y evitando la incorporación automática en otros archivos de la SEC. No se divulgaron precios, cupones u otros términos de las nuevas notas en el 8-K. Un comunicado de prensa detallado (Anexo 99.1) está incorporado por referencia y contiene las habituales advertencias sobre declaraciones prospectivas.

Puntos clave para inversores:

  • Monto: US$2.0 mil millones en notas senior no garantizadas (colocación privada).
  • Vencimiento: 2032 — extiende el plazo de la deuda aproximadamente cuatro años respecto al préstamo a término 2028 que se está reembolsando.
  • Uso de los ingresos: reembolso total del préstamo a término garantizado 2028; fondos residuales más efectivo para redimir parcialmente las notas no garantizadas 2027.
  • Condicionalidad: la redención de las notas 2027 depende del cierre exitoso de la nueva oferta.
  • Efecto estratégico: reemplaza deuda garantizada por deuda no garantizada y suaviza los vencimientos a corto plazo, mejorando potencialmente la flexibilidad del colateral y la liquidez.

Carnival Corporation & plc (NYSE: CCL)는 2025년 7월 7일, 항목 7.01(Regulation FD)에 따라 8-K를 제출하여 2032년 만기인 20억 달러 규모의 선순위 무담보 채권의 사모 발행 계획을 공시했습니다. 이 거래는 2028년 만기인 회사의 최우선 선순위 담보 대출을 전액 상환하기 위해 설계되었습니다. 남은 수익금과 현금은 2027년 만기 5.750% 선순위 무담보 채권의 일부 상환에 사용될 예정입니다. 상환은 새로운 채권 발행의 성공적인 마감에 명시적으로 조건부로 이루어집니다.

공시 문서에는 해당 정보가 Regulation FD에 따라 제공(furnished)되었으며 제출(filed)된 것은 아니라고 명시되어 있어, 섹션 18의 책임이 제한되고 다른 SEC 제출 문서에 자동으로 통합되는 것을 방지합니다. 8-K에서는 새 채권의 가격, 이자율 또는 기타 조건이 공개되지 않았습니다. 자세한 보도자료(첨부문서 99.1)가 참조 문서로 포함되어 있으며, 통상적인 미래예측진술 경고문을 포함하고 있습니다.

투자자 주요 사항:

  • 금액: 20억 달러 규모의 선순위 무담보 채권(사모 발행).
  • 만기: 2032년 — 상환 예정인 2028년 만기 대출보다 약 4년 연장.
  • 수익금 사용: 2028년 담보 대출 전액 상환; 잔여 금액과 현금으로 2027년 무담보 채권 일부 상환.
  • 조건: 2027년 채권 상환은 새로운 발행의 성공적 마감에 달려 있음.
  • 전략적 효과: 담보부 부채를 무담보 부채로 대체하고 단기 만기 일정을 완화하여 담보 유연성과 유동성을 향상시킬 가능성.

Carnival Corporation & plc (NYSE: CCL) a déposé un formulaire 8-K le 7 juillet 2025 en vertu de l’article 7.01 (Règlement FD) pour divulguer une offre privée prévue de billets senior non garantis d’un montant de 2,0 milliards de dollars américains arrivant à échéance en 2032. La transaction vise à rembourser intégralement la facilité de prêt à terme senior garanti de première priorité de la société, arrivant à échéance en 2028. Les produits restants, ainsi que la trésorerie disponible, seront utilisés pour rembourser partiellement les billets senior non garantis en circulation au taux de 5,750 % arrivant à échéance en 2027. Le remboursement est expressément conditionné à la clôture réussie de la nouvelle émission de billets.

Le dépôt indique que les informations sont fournies — et non déposées — en vertu du Règlement FD, limitant ainsi la responsabilité selon la Section 18 et empêchant l’incorporation automatique dans d’autres dépôts auprès de la SEC. Aucun prix, coupon ou autre terme des nouveaux billets n’a été divulgué dans le 8-K. Un communiqué de presse détaillé (Annexe 99.1) est incorporé par référence et contient les avertissements habituels concernant les déclarations prospectives.

Points clés pour les investisseurs :

  • Montant : 2,0 milliards de dollars américains en billets senior non garantis (placement privé).
  • Échéance : 2032 — prolonge la durée de la dette d’environ quatre ans par rapport au prêt à terme 2028 qui sera remboursé.
  • Utilisation des produits : remboursement intégral du prêt à terme garanti 2028 ; fonds résiduels plus trésorerie pour rembourser partiellement les billets non garantis 2027.
  • Conditionnalité : le remboursement des billets 2027 dépend de la clôture réussie de la nouvelle émission.
  • Effet stratégique : remplace la dette garantie par de la dette non garantie et lisse les échéances à court terme, améliorant potentiellement la flexibilité des garanties et la liquidité.

Carnival Corporation & plc (NYSE: CCL) reichte am 7. Juli 2025 eine 8-K-Meldung unter Punkt 7.01 (Regulation FD) ein, um ein geplantes privates Angebot von 2,0 Milliarden US-Dollar unbesicherten vorrangigen Schuldverschreibungen mit Fälligkeit 2032 offenzulegen. Die Transaktion soll die vorrangige besicherte Terminkreditfazilität des Unternehmens mit Fälligkeit 2028 vollständig zurückzahlen. Etwaige verbleibende Erlöse sowie vorhandene Barmittel werden verwendet, um teilweise die ausstehenden 5,750% unbesicherten vorrangigen Schuldverschreibungen von Carnival mit Fälligkeit 2027 zurückzuzahlen. Die Rückzahlung ist ausdrücklich an den erfolgreichen Abschluss des neuen Anleiheangebots gebunden.

Die Einreichung weist darauf hin, dass die Informationen gemäß Regulation FD bereitgestellt – nicht eingereicht – werden, wodurch die Haftung nach Abschnitt 18 begrenzt und eine automatische Einbeziehung in andere SEC-Einreichungen ausgeschlossen wird. Im 8-K wurden keine Preise, Kupons oder sonstigen Bedingungen der neuen Schuldverschreibungen bekanntgegeben. Eine ausführliche Pressemitteilung (Anlage 99.1) ist durch Verweis eingebunden und enthält die üblichen Hinweise zu zukunftsgerichteten Aussagen.

Wesentliche Informationen für Investoren:

  • Betrag: 2,0 Milliarden US-Dollar unbesicherte vorrangige Schuldverschreibungen (Privatplatzierung).
  • Fälligkeit: 2032 – verlängert die Laufzeit der Schulden um etwa vier Jahre im Vergleich zum 2028 fälligen Terminkredit, der zurückgezahlt wird.
  • Verwendung der Erlöse: 100 % Rückzahlung des besicherten Terminkredits 2028; verbleibende Mittel plus Bargeld zur teilweisen Rückzahlung der unbesicherten Schuldverschreibungen 2027.
  • Bedingung: Die Rückzahlung der Schuldverschreibungen 2027 ist an den erfolgreichen Abschluss des neuen Angebots gebunden.
  • Strategische Wirkung: Ersetzt besicherte Schulden durch unbesicherte Schulden und glättet die kurzfristigen Fälligkeiten, was die Flexibilität der Sicherheiten und die Liquidität potenziell verbessert.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (date of earliest event reported) July 7, 2025

 

Carnival Corporation   Carnival plc
(Exact name of registrant as specified in its charter)   (Exact name of registrant as specified in its charter)
     
Republic of Panama   England and Wales
(State or other jurisdiction of incorporation)   (State or other jurisdiction of incorporation)
     
001-9610   001-15136
(Commission File Number)   (Commission File Number)
     
59-1562976   98-0357772
(I.R.S. Employer Identification No.)   (I.R.S. Employer Identification No.)
     

3655 N.W. 87th Avenue

Miami, Florida 33178-2428

 

Carnival House, 100 Harbour Parade,

Southampton SO15 1ST, United Kingdom

(Address of principal executive offices)

(Zip code)

 

(Address of principal executive offices)

(Zip code)

     
(305) 599-2600   011 44 23 8065 5000
(Registrant’s telephone number, including area code)   (Registrant’s telephone number, including area code)
     
None   None
(Former name or former address, if changed since last report.)   (Former name or former address, if changed since last report.)

 

CIK 0001125259
Amendment Flag False

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrants under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock ($0.01 par value)   CCL   New York Stock Exchange, Inc.
         
Ordinary Shares each represented by American Depositary Shares ($1.66 par value) Special Voting Share, GBP 1.00 par value and Trust Shares of beneficial interest in the P&O Princess Special Voting Trust   CUK   New York Stock Exchange, Inc.
         
1.000% Senior Notes due 2029   CUK29   New York Stock Exchange LLC

Indicate by check mark whether the registrants are emerging growth companies as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2) of this chapter).

Emerging growth companies

If emerging growth companies, indicate by check mark if the registrants have elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 

 

 

Item 7.01Regulation FD.

On July 7, 2025, Carnival Corporation & plc issued a press release announcing that Carnival Corporation (the “Company”) commenced a private offering (the “Notes Offering”) of new senior unsecured notes in an aggregate principal amount of $2.0 billion, expected to mature in 2032, to fully repay the borrowings under Carnival Corporation's first-priority senior secured term loan facility maturing in 2028. The Company intends to use the remaining proceeds and cash on hand to partially redeem the Company’s 5.750% senior unsecured notes due 2027 (the “2027 Unsecured Notes”). The redemption will be conditioned on the closing of the Notes Offering.

A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein. Such press release includes forward-looking statements. See “Cautionary Note Concerning Forward-Looking Statements” within the press release for additional information. Neither this current report nor the press release constitutes a notice of redemption with respect to the 2027 Unsecured Notes.

The Company is furnishing the information in this Current Report on Form 8-K, including Exhibit 99.1 hereto, to comply with Regulation FD. Such information shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date hereof and regardless of any general incorporation language in such filings, except to the extent expressly set forth by specific reference in such filing.

Item 9.01Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.   Description
99.1   Press release of Carnival Corporation and Carnival plc dated July 7, 2025
104   Cover Page Interactive Data File (embedded with the Inline XBRL document).

 

 

 

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, each of the registrants has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

CARNIVAL CORPORATION   CARNIVAL PLC
         
By: /s/ David Bernstein   By: /s/ David Bernstein
Name: David Bernstein   Name: David Bernstein
Title: Chief Financial Officer and Chief Accounting Officer   Title: Chief Financial Officer and Chief Accounting Officer
         

Date: July 7, 2025

 

Date: July 7, 2025

 

 

 

 

 

 

FAQ

What did Carnival (CCL) announce on 7 July 2025?

It commenced a private offering of US$2.0 billion senior unsecured notes maturing in 2032.

How will Carnival use the proceeds from the new note offering?

Proceeds will fully repay the 2028 first-priority secured term loan and partially redeem 5.750% senior notes due 2027.

What is the maturity date of the new senior unsecured notes?

The notes are expected to mature in 2032.

Is the redemption of the 5.750% 2027 notes guaranteed?

No. The redemption is conditioned on the successful closing of the US$2.0 billion notes offering.

Does the 8-K disclose the coupon for the new notes?

No. The filing does not provide pricing or coupon details for the 2032 notes.

Why is the information furnished rather than filed?

Carnival furnished the data under Regulation FD to avoid Section 18 liability and automatic incorporation into other SEC filings.
Carnival Corp

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