Carnival Corporation Raises $1.25B in Debt Refinancing to Cut Interest Costs

Carnival Corporation Raises $1.25B in Debt Refinancing to Cut Interest Costs

Carnival Corporation has announced a significant debt refinancing move, raising $1.25 billion through a private offering of senior unsecured notes. The transaction, led by prominent investment banks J.P. Morgan, Citigroup, and Goldman Sachs, is set to close on October 15, 2025.

The cruise giant priced the offering at 5.125% interest per year, with notes due to mature on May 1, 2029. These notes will pay interest semi-annually. Carnival plans to use the proceeds, along with existing cash, to redeem its existing $2 billion 6.000% senior unsecured notes due 2029. This transaction is part of Carnival's ongoing strategy to reduce its interest expenses.

The successful completion of this offering will enable Carnival Corporation to lower its annual interest costs, potentially improving its financial performance. The notes are expected to be issued and delivered on October 15, 2025.

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