Carnival Corp. stock was up 1.1% in premarket trades after the cruise operator said it would retire $1.2 billion of its highest-cost debt, “given the...
Carnival Corp. CCL stock was up 1.1% in premarket trades after the cruise operator said it would retire $1.2 billion of its highest-cost debt, “given the confidence we have in our business and its cash flow generation.” The move will save Carnival about $120 million a year in interest expense. The company will issue a new $1 billion senior secured first lien term loan B facility, expected to mature in 2027. Carnival Corp.
1% in premarket trades after the cruise operator said it would retire $1.2 billion of its highest-cost debt, “given the confidence we have in our business and its cash flow generation.” The move will save Carnival about $120 million a year in interest expense. The company will issue a new $1 billion senior secured first lien term loan B facility, expected to mature in 2027. Carnival Corp. may raise an additional $500 million of other secured debt maturing in 2029.
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