Carnival Corporation & plc Announces Closing of 9.875% Second Priority Senior Secured Notes Due 2027

MIAMI, Aug 18, 2020 / PRNewswire / – Carnival Corporation & plc ((NYSE / LSE: CCL, NYSE: CUK), one of the world’s largest travel and entertainment companies, today announced that Carnival Corporation (the “Company”) had closed its private offer of $ 900 million aggregate principal amount of 9.875% of the Second Priority Secured Notes due 2027 (the “Secured Notes”). The Company expects to use the net proceeds of the offering of the Guaranteed Notes for general corporate purposes.

The Secured Notes have been offered only to persons reasonably considered to be Qualified Institutional Purchasers in reliance on Rule 144A under the Securities Act, and outside United States, only to non-US investors in accordance with Regulation S. The Guaranteed Notes will not be registered under the Securities Act or any state securities law and may not be offered or sold in United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the Guaranteed Notes or any other security and does not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation or sale would be illegal. . PJT Partners LP acted as independent financial advisor to the Company for the Offer.

About Carnival Corporation & plc

Carnival Corporation & plc is one of the world’s largest leisure travel companies with a portfolio of nine of the world’s largest cruise lines. Present in North America, Australia, Europe and Asia, its portfolio includes Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, P&O Cruises (Australia), Costa Cruises, AIDA Cruises, P&O Cruises (UK) and Cunard.

Caution regarding factors that may affect future results

Carnival Corporation and Carnival plc and their respective subsidiaries are referred to collectively in this press release as “Carnival Corporation & plc”, “us”, “we” and “we”. Some of the statements, estimates or projections contained in this document are “forward-looking statements” which involve risks, uncertainties and assumptions with regard to us, including certain statements concerning the financing transactions described here, future results, operations, outlook, plans, goals, reputation, cash flow, liquidity and other events that have not yet occurred. These statements are intended to qualify for the disclaimers of liability under Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact are statements which may be considered as prospective. These statements are based on current expectations, estimates, forecasts and projections about our business and the industry in which we operate, as well as the beliefs and assumptions of our management. We have tried, as much as possible, to identify these statements by using words such as “will”, “may”, “could”, “should”, “would”, “believe”, “depend”, ” expect ”,“ objective, ”“ anticipate ”,“ foresee ”,“ plan ”,“ future ”,“ intend ”,“ plan ”,“ estimate ”,“ target ”,“ indicate ”,“ anticipate ” “and similar expressions of future or negative intent of such terms.

Forward-looking statements include statements relating to our prospects and financial condition, including, but not limited to, statements regarding:

Because forward-looking statements involve risks and uncertainties, there are many factors that could cause our actual results, performance or achievements to differ materially from those expressed or implied by our forward-looking statements. This note contains important cautions regarding known factors which, in our opinion, could materially affect the accuracy of our forward-looking statements and adversely affect our business, results of operations and financial condition. Furthermore, many of these risks and uncertainties are currently magnified by the COVID-19 outbreak and will continue to be magnified by this outbreak, or may be in the future. It is not possible to predict or identify all of these risks. There may be additional risks which we consider to be immaterial or which are unknown. These factors include, but are not limited to the following:

• COVID-19 has had, and is expected to continue to have, a significant impact on our financial condition and operations, impacting our ability to obtain acceptable financing to finance reductions in cash from operations that result. The current and uncertain impact of the COVID-19 outbreak, including its effect on people’s ability or desire to travel (including on cruises), is expected to continue to have an impact on our bottom line, our operations, our outlook, plans, goals, growth, reputation, litigation, cash flow, liquidity and share prices
• Following the COVID-19 outbreak, we have suspended our cruise operations, and if we are not able to resume normal operations in the short term, we may not meet a maintenance commitment in some of our debts. installations from May 31, 2021
• Global events impacting people’s ability or desire to travel may result in reduced demand for cruises
• Incidents involving our ships, passengers or the cruise industry as well as adverse weather conditions and other natural disasters can impact the satisfaction of our customers and crew and cause damage to reputation.
• Changes and non-compliance with the laws and regulations under which we operate, such as those relating to health, the environment, safety and security, privacy and data protection, anti-corruption, economic sanctions, trade protection and taxation can lead to litigation, enforcement actions, fines, penalties and damage to reputation
• Data security breaches and data privacy breaches as well as disruption and other damage to our main offices, IT operations and system networks and the inability to keep pace with technological developments can negatively impact on our business operations, the satisfaction of our customers and our crew. and lead to damage to reputation
• The ability to recruit, develop and retain qualified on-board personnel who live away from home for extended periods of time can have a negative impact on our business operations, customer service and satisfaction.
• Increases in fuel prices, changes in the types of fuel consumed and the availability of fuel supply may negatively impact our routes and forecast costs.
• Fluctuations in foreign currency exchange rates may adversely affect our financial results
• Overcapacity and competition in the cruise and land vacation industry can cause our cruise sales, prices and destination options to decline.
• The geographic regions in which we are trying to expand our business may be slow to develop or, ultimately, not develop as we expect
• Failure to implement our shipbuilding programs and ship repairs, maintenance and refurbishments can negatively impact our business operations and customer satisfaction.

The order of the risk factors set out above is not intended to reflect our indication of priority or likelihood.

Forward-looking statements should not be taken as a prediction of actual results. Subject to any continuing obligation under applicable law or any relevant stock market rule, we expressly disclaim any obligation to release, after the date of this document, any update or revision to these forward-looking statements to reflect any changes in expectations or events, conditions or circumstances upon which such statements are based.

Show original content: http: //www.prnewswire.com/news-releases/carnival-corporation–plc-announces-closing-of-9-875-second-priority-senior-secured-notes-due-2027- – 301114301.html

SOURCE Carnival Corporation and plc