On October 15, 2025, Carnival Corporation & plc closed a private offering of $1.25 billion in 5.125 % senior unsecured notes due 2029, with a coupon of 5.125 % and a maturity of May 1, 2029.
The proceeds, combined with cash on hand, were used to redeem all $2.0 billion of its 6.000 % senior unsecured notes due 2029. The redemption was scheduled for November 1, 2025, at a price of 101.5 % of principal plus accrued interest, thereby reducing the company’s debt load and interest expense.
This transaction continues Carnival’s aggressive deleveraging strategy, lowering net debt to EBITDA and improving credit metrics. The reduction in interest expense is expected to free cash flow and support the company’s long‑term financial flexibility.
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