Carnival Completes $1 Billion Private Notes Offering with Investment Grade-Style Covenants

Paul, Weiss advised Carnival Corporation & plc in its private offering of $1 billion aggregate principal amount of 5.875% senior unsecured notes due 2031. Carnival will use the net proceeds from the offering to redeem its $993 million 7.625% senior unsecured notes due 2026.

The Paul, Weiss team was led by corporate partners John Kennedy and Luke Jennings, and included, among others, tax counsel Christina Cerrito; and executive compensation counsel Jake Glazeski.