Our lawyers provide innovative and practical counsel on a wide variety of capital raising and securities law compliance matters. We represent clients ranging from emerging private companies to established public companies. With each, we build long-term relationships, generating efficiencies and helping them realize their business goals.
Carnival Completes Convertible Notes Exchange
- Client News
- August 25, 2022
Practices
Paul, Weiss advised Carnival Corporation & plc in the exchange of approximately $339 million aggregate principal amount of Carnival’s existing 5.75% convertible senior notes due 2023 for an equivalent aggregate principal amount of its new 5.75% convertible senior notes due 2024, extending the maturity date by 18 months. The new notes have the same initial conversion price as the existing notes—representing no dilution to Carnival’s shareholders at scheduled maturity versus the existing notes—the same coupon and no upfront costs. The notes were exchanged pursuant to separate, privately negotiated exchange agreements with certain holders of the existing notes.
The Paul, Weiss team included, among others, corporate partners John Kennedy and Caith Kushner and counsel David Sobel and Luke Jennings; and tax partner Brian Grieve.