Simpson Thacher represented the initial purchasers, led by BofA Securities, Inc., in connection with the private offering by Carnival Corporation (“Carnival”) of an aggregate principal amount of $1 billion of 5.875% senior unsecured notes due 2031.
Carnival will use the net proceeds from the notes offering to redeem its $993 million 7.625% senior unsecured notes due 2026.
Carnival is the largest global cruise company, and among the largest leisure travel companies, with a portfolio of world-class cruise lines - AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, P&O Cruises, Princess Cruises and Seabourn.
The Simpson Thacher team for the transaction included John C. Ericson, John G. O’Connell and Minaal E. Wickremesinghe (Capital Markets); Michael Mann and Paul Jansch (Tax); Pasco Struhs (Executive Compensation and Employee Benefits); Sara Liu (Intellectual Property); and Jennie Getsin (Blue Sky).