Carnival Corp. announces offering of $1.25 billion of high-yield bonds due 2028

Carnival Corp. & plc CCL, +11.21% said Tuesday that its Carnival Holdings (Bermuda) Ltd. has commenced an offering of $1.25 billion of senior priority high-yield bonds that mature in 2028. Proceeds will be used to make principal payments on debt and for general corporate purposes. As part of the deal, the company and subsidiaries will contribute 12 unencumbered vessels to Carnival Bermuda which will continue to be operated under of the company’s Carnival plc’s or another unit’s brands. Shares were up 3.6% premarket, but have fallen 64% in the year to date, while the S&P 500 SPX, +0.65% has fallen 23%.

Source: finance.yahoo.com