0EV1 Carnival Corp

 
TIDMCCL 
 
Carnival Corporation and Carnival plc Announce Marketing of Term Loan Facility 
for Refinancing Transaction 
 
MIAMI (October 4, 2021) - Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) 
announce that its joint Current Report on Form 8-K was filed with the U.S. 
Securities and Exchange Commission on October 4, 2021.  As described in the 
joint Current Report on Form 8-K, on October 4, 2021, Carnival Corporation (the 
"Company") announced that it intends to commence the marketing of a 
first-priority senior secured term loan facility (the "Term Loan Facility") 
with an original principal amount of $1.5 billion maturing in 2028. 
 
The Company intends to use the proceeds from the Term Loan Facility to redeem a 
portion of the Company's 11.500% First Priority Senior Secured Notes due 2023 
(the "2023 Notes"), including related accrued interest, fees and expenses. 
 This disclosure does not constitute a notice of redemption with respect to the 
2023 Notes. 
 
PJT Partners is serving as independent financial advisor to the Company. 
 
A copy of the joint Current Report on Form 8-K is also available on the 
Carnival Corporation & plc website at  www.carnivalcorp.com or 
www.carnivalplc.com. 
 
Forward Looking Statements 
 
Some of the statements, estimates or projections contained in this document are 
"forward-looking statements" that involve risks, uncertainties and assumptions 
with respect to us, including some statements concerning the financing 
transactions described herein, future results, operations, outlooks, plans, 
goals, reputation, cash flows, liquidity and other events which have not yet 
occurred. These statements are intended to qualify for the safe harbors from 
liability provided by Section 27A of the Securities Act of 1933 and Section 21E 
of the Securities Exchange Act of 1934, as amended. All statements other than 
statements of historical facts are statements that could be deemed 
forward-looking. These statements are based on current expectations, estimates, 
forecasts and projections about our business and the industry in which we 
operate and the beliefs and assumptions of our management. We have tried, 
whenever possible, to identify these statements by using words like "will," 
"may," "could," "should," "would," "believe," "depends," "expect," "goal," 
"anticipate," "forecast," "project," "future," "intend," "plan," "estimate," 
"target," "indicate," "outlook" and similar expressions of future intent or the 
negative of such terms. 
 
Forward-looking statements include those statements that relate to our outlook 
and financial position including, but not limited to, statements regarding: 
 
  * Pricing                               * Goodwill, ship and trademark fair values 
  * Booking levels                        * Liquidity and credit ratings 
  * Occupancy                             * Adjusted earnings per share 
  * Interest, tax and fuel expenses       * Return to guest cruise operations 
  * Currency exchange rates               * Impact of the COVID-19 coronavirus global 
  * Estimates of ship depreciable lives     pandemic on our financial condition and 
    and residual values                     results of operations 
 
Because forward-looking statements involve risks and uncertainties, there are 
many factors that could cause our actual results, performance or achievements 
to differ materially from those expressed or implied by our forward-looking 
statements. This note contains important cautionary statements of the known 
factors that we consider could materially affect the accuracy of our 
forward-looking statements and adversely affect our business, results of 
operations and financial position. Additionally, many of these risks and 
uncertainties are currently amplified by and will continue to be amplified by, 
or in the future may be amplified by, the COVID-19 outbreak. It is not possible 
to predict or identify all such risks. There may be additional risks that we 
consider immaterial or which are unknown. These factors include, but are not 
limited to, the following: 
 
  * COVID-19 has had, and is expected to continue to have, a significant impact 
    on our financial condition and operations, which impacts our ability to 
    obtain acceptable financing to fund resulting reductions in cash from 
    operations. The current, and uncertain future, impact of the COVID-19 
    outbreak, including its effect on the ability or desire of people to travel 
    (including on cruises), is expected to continue to impact our results, 
    operations, outlooks, plans, goals, reputation, litigation, cash flows, 
    liquidity, and stock price; 
  * World events impacting the ability or desire of people to travel have and 
    may continue to lead to a decline in demand for cruises; 
  * Incidents concerning our ships, guests or the cruise vacation industry as 
    well as adverse weather conditions and other natural disasters have in the 
    past and may, in the future, impact the satisfaction of our guests and crew 
    and lead to reputational damage; 
  * Changes in and non-compliance with laws and regulations under which we 
    operate, such as those relating to health, environment, safety and 
    security, data privacy and protection, anti-corruption, economic sanctions, 
    trade protection and tax have in the past and may, in the future, lead to 
    litigation, enforcement actions, fines, penalties, and reputational damage; 
  * Breaches in data security and lapses in data privacy as well as disruptions 
    and other damages to our principal offices, information technology 
    operations and system networks, including the recent ransomware incidents, 
    and failure to keep pace with developments in technology may adversely 
    impact our business operations, the satisfaction of our guests and crew and 
    may lead to reputational damage; 
  * Ability to recruit, develop and retain qualified shipboard personnel who 
    live away from home for extended periods of time may adversely impact our 
    business operations, guest services and satisfaction; 
  * Increases in fuel prices, changes in the types of fuel consumed and 
    availability of fuel supply may adversely impact our scheduled itineraries 
    and costs; 
  * Fluctuations in foreign currency exchange rates may adversely impact our 
    financial results; 
  * Overcapacity and competition in the cruise and land-based vacation industry 
    may lead to a decline in our cruise sales, pricing and destination options; 
  * Inability to implement our shipbuilding programs and ship repairs, 
    maintenance and refurbishments may adversely impact our business operations 
    and the satisfaction of our guests; and 
  * the risk factors included in Carnival Corporation's and Carnival plc's 
    Annual Report on Form 10-K filed with the SEC on January 26, 2021 and 
    Carnival Corporation's and Carnival plc's Quarterly Reports on Form 10-Q 
    filed with the SEC on April 7, 2021, June 28, 2021 and September 30, 2021. 
 
The ordering of the risk factors set forth above is not intended to reflect our 
indication of priority or likelihood. 
 
Forward-looking statements should not be relied upon as a prediction of actual 
results. Subject to any continuing obligations under applicable law or any 
relevant stock exchange rules, we expressly disclaim any obligation to 
disseminate, after the date of this document, any updates or revisions to any 
such forward-looking statements to reflect any change in expectations or 
events, conditions or circumstances on which any such statements are based. 
 
MEDIA CONTACT                             INVESTOR RELATIONS CONTACT 
 
Roger Frizzell                            Beth Roberts 
 
001 305 406 7862                          001 305 406 4832 
 
#33716957v2 
 
 
 
END 
 
 

(END) Dow Jones Newswires

October 04, 2021 08:08 ET (12:08 GMT)

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