Carnival Corporation & plc Announces Closing of $775 10.500% Second-Priority Senior Secured Notes due 2026 and €425 10.125% Second-Priority Senior Secured Notes due 2026

MIAMI, July 20, 2020 /PRNewswire/ — Carnival Company & plc (NYSE/LSE: CCL; NYSE: CUK), one of many world’s largest journey and leisure corporations, at this time introduced that Carnival Company (the “Company”) has closed its personal providing of $775 million mixture principal quantity of 10.500% Second-Precedence Senior Secured Notes due 2026 (the “USD Notes”) and €425 million mixture principal quantity of 10.125% Second-Precedence Senior Notes due 2026 (the “Euro Notes” and, along with the USD Notes, the “Secured Notes”). The Company expects to make use of the web proceeds from the providing of the Secured Notes for normal company functions.

The Secured Notes had been supplied solely to individuals moderately believed to be certified institutional patrons in reliance on Rule 144A underneath the Securities Act, and outdoors the US, solely to non-U.S. traders pursuant to Regulation S. The Secured Notes won’t be registered underneath the Securities Act or any state securities legal guidelines and will not be supplied or bought in the US absent registration or an relevant exemption from the registration necessities of the Securities Act and relevant state legal guidelines.

This press launch doesn’t represent a proposal to promote or a solicitation of a proposal to purchase the Secured Notes or some other securities and shall not represent a proposal, solicitation or sale in any jurisdiction wherein such a proposal, solicitation or sale could be illegal.

About Carnival Company & plc

Carnival Company & plc is likely one of the world’s largest leisure journey corporations with a portfolio of 9 of the world’s main cruise traces. With operations in North America, Australia, Europe and Asia, its portfolio options Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, P&O Cruises (Australia), Costa Cruises, AIDA Cruises, P&O Cruises (UK) and Cunard.

Cautionary Word Regarding Components That Might Have an effect on Future Outcomes

Carnival Company and Carnival plc and their respective subsidiaries are referred to collectively on this press launch as “Carnival Company & plc,” “our,” “us” and “we.” A number of the statements, estimates or projections contained on this doc are “forward-looking statements” that contain dangers, uncertainties and assumptions with respect to us, together with some statements in regards to the financing transactions described herein, future outcomes, operations, outlooks, plans, objectives, status, money flows, liquidity and different occasions which haven’t but occurred. These statements are supposed to qualify for the secure harbors from legal responsibility supplied by Part 27A of the Securities Act of 1933 and Part 21E of the Securities Alternate Act of 1934. All statements apart from statements of historic details are statements that could possibly be deemed forward-looking. These statements are primarily based on present expectations, estimates, forecasts and projections about our enterprise and the business wherein we function and the beliefs and assumptions of our administration. Now we have tried, at any time when potential, to determine these statements through the use of phrases like “will,” “could,” “may,” “ought to,” “would,” “consider,” “relies upon,” “count on,” “aim,” “anticipate,” “forecast,” “undertaking,” “future,” “intend,” “plan,” “estimate,” “goal,” “point out,” “outlook,” and comparable expressions of future intent or the destructive of such phrases.

Ahead-looking statements embrace these statements that relate to our outlook and monetary place together with, however not restricted to, statements relating to:

• Web income yields

• Web cruise prices, excluding gas per out there decrease berth day

• Reserving ranges

• Estimates of ship depreciable lives and residual values

• Pricing and occupancy

• Goodwill, ship and trademark honest values

• Curiosity, tax and gas bills

• Liquidity

• Forex trade charges

• Adjusted earnings per share

• Impression of the COVID-19 coronavirus international pandemic on our monetary situation and outcomes of operations

As a result of forward-looking statements contain dangers and uncertainties, there are lots of components that might trigger our precise outcomes, efficiency or achievements to vary materially from these expressed or implied by our forward-looking statements. This word incorporates necessary cautionary statements of the identified components that we take into account may materially have an effect on the accuracy of our forward-looking statements and adversely have an effect on our enterprise, outcomes of operations and monetary place. Moreover, many of those dangers and uncertainties are at present amplified by and can proceed to be amplified by, or sooner or later could also be amplified by, the COVID-19 outbreak. It’s not potential to foretell or determine all such dangers. There could also be extra dangers that we take into account immaterial or that are unknown. These components embrace, however should not restricted to, the next:

  • COVID-19 has had, and is predicted to proceed to have, a major impression on our monetary situation and operations, which impacts our skill to acquire acceptable financing to fund ensuing reductions in money from operations. The present, and unsure future, impression of the COVID-19 outbreak, together with its impact on the flexibility or need of individuals to journey (together with on cruises), is predicted to proceed to impression our outcomes, operations, outlooks, plans, objectives, progress, status, litigation, money flows, liquidity, and inventory value
  • Because of the COVID-19 outbreak, we now have paused our visitor cruise operations, and if we’re unable to re-commence regular operations within the near-term, we could also be out of compliance with a upkeep covenant in sure of our debt amenities as of Might 31, 2021
  • World occasions impacting the flexibility or need of individuals to journey could result in a decline in demand for cruises
  • Incidents regarding our ships, friends or the cruise trip business in addition to antagonistic climate situations and different pure disasters could impression the satisfaction of our friends and crew and result in reputational harm
  • Adjustments in and non-compliance with legal guidelines and laws underneath which we function, equivalent to these regarding well being, setting, security and safety, knowledge privateness and safety, anti-corruption, financial sanctions, commerce safety and tax could result in litigation, enforcement actions, fines, penalties, and reputational harm
  • Breaches in knowledge safety and lapses in knowledge privateness in addition to disruptions and different damages to our principal workplaces, data know-how operations and system networks and failure to maintain tempo with developments in know-how could adversely impression our enterprise operations, the satisfaction of our friends and crew and result in reputational harm
  • Capacity to recruit, develop and retain certified shipboard personnel who reside away from residence for prolonged durations of time could adversely impression our enterprise operations, visitor companies and satisfaction
  • Will increase in gas costs, adjustments within the kinds of gas consumed and availability of gas provide could adversely impression our scheduled itineraries and prices
  • Fluctuations in international foreign money trade charges could adversely impression our monetary outcomes
  • Overcapacity and competitors within the cruise and land-based trip business could result in a decline in our cruise gross sales, pricing and vacation spot choices
  • Geographic areas wherein we attempt to develop our enterprise could also be gradual to develop or in the end not develop how we count on
  • Lack of ability to implement our shipbuilding applications and ship repairs, upkeep and refurbishments could adversely impression our enterprise operations and the satisfaction of our friends

The ordering of the danger components set forth above isn’t supposed to mirror our indication of precedence or probability.

Ahead-looking statements shouldn’t be relied upon as a prediction of precise outcomes. Topic to any persevering with obligations underneath relevant legislation or any related inventory trade guidelines, we expressly disclaim any obligation to disseminate, after the date of this doc, any updates or revisions to any such forward-looking statements to mirror any change in expectations or occasions, situations or circumstances on which any such statements are primarily based.

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SOURCE Carnival Company & plc

Roger Frizzell, Carnival Company, [email protected], (305) 406-7862; Mike Flanagan, LDWW, [email protected], (727) 452-4538

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