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Carnival Plc
Carnival PLC - Carnival Corporation & plc Announces Closing of €1.0 Billion 4.125% Senior Unsecured Notes Offering
7th July 2025, 12:55
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Carnival Corporation & plc Announces Closing of €1.0 Billion 4.125% Senior
Unsecured Notes Offering

Proceeds from the offering of senior unsecured notes to be used to repay
borrowings under senior secured term loan facilities

MIAMI,July 7, 2025/PRNewswire/ -- Carnival Corporation & plc(NYSE/LSE: CCL;
NYSE: CUK) today announced that Carnival plc (the "Company") has closed its
previously announced private offering (the "Notes Offering") of €1.0 billion
aggregate principal amount of 4.125% senior unsecured notes due 2031 (the
"Notes"). The Company will use the proceeds from the Notes Offering to fully
repay the borrowings under Carnival Corporation's first-priority senior secured
term loan facility maturing in 2027 (the "2027 Term Loan Facility") and to repay
a portion of the borrowings under Carnival Corporation's first-priority senior
secured term loan facility maturing in 2028. In conjunction with the Company's
prepayment of $450.0 million on June 27, 2025 towards the 2027 Term Loan
Facility, this transaction builds on its continuing efforts to deleverage,
reduce interest expense, simplify its capital structure and manage its maturity
profile. In addition, the indenture that governs the Notes has investment grade
-style covenants.

"We continue to opportunistically access the capital markets," said David
Bernstein, Chief FinancialOfficer. "We are just one notch away from an
investment grade credit rating and this successfultransaction puts us further
down that path."

The Notes will pay interest annually on July 15 of each year, beginning on July
15, 2026, at a rate of 4.125% per year. The Notes will be unsecured and will
mature on July 15, 2031. The Notes will be fully and unconditionally guaranteed
on a senior unsecured basis, jointly and severally, by Carnival Corporation and
certain of the Company's and Carnival Corporation's subsidiaries that also
guarantee certain of our first-priority secured indebtedness, certain of our
other unsecured notes and our convertible notes.

The Notes were offered only to persons reasonably believed to be qualified
institutional buyers in reliance on Rule 144A under the Securities Act of 1933,
as amended (the "Securities Act"), and outside the United States, only to non
-U.S. investors pursuant to Regulation S under the Securities Act.

The Notes were not, and will not be, registered under the Securities Act or any
state securities laws and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act and applicable state laws.

This press release shall not constitute an offer to sell or the solicitation of
an offer to purchase the Notes or any other securities and shall not constitute
an offer, solicitation or sale in any state or jurisdiction in which such
offering, solicitation or sale would be unlawful.

About Carnival Corporation & plc

Carnival Corporation & plc 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.

Cautionary Note Concerning Forward-Looking Statements

Certain statements in this press release constitute forward-looking statements
under the Private Securities Litigation Reform Act of 1995. These statements
relate to, among other things, the financing transactions described herein,
future results, operations, outlooks, plans, goals, reputation, cash flows and
liquidity and other events which have not yet occurred. Forward-looking
statements reflect management's current expectations and are subject to risks,
uncertainties and other factors that could cause our actual results, performance
or achievements to differ materially from the future results, performance or
achievements expressed or implied in those forward-looking statements. Factors
that could affect our results include, among others, those discussed under the
caption "Risk Factors" in our most recent annual report on Form 10-K, as well as
our other filings with the Securities and Exchange Commission (the "SEC"),
copies of which may be obtained by visiting the Investor Relations page of our
website
atwww.carnivalcorp.com/investors/ (https://c212.net/c/link/?t=0&l=en&o=4463088
-1&h=1715694941&u=http%3A%2F%2Fwww.carnivalcorp.com%2Finvestors%2F&a=www.carnival
corp.com%2Finvestors%2F)or the SEC's website
atwww.sec.gov (https://c212.net/c/link/?t=0&l=en&o=4463088
-1&h=1262010273&u=https%3A%2F%2Fwww.sec.gov&a=www.sec.gov). Undue reliance
should not be placed on the forward-looking statements in this release, which
are based on information available to us on the date hereof. We undertake no
obligation to publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.

CONTACT:Carnival Corporation & plc Media Contact: Jody Venturoni, Carnival
Corporation, jventuroni@carnival.com, (469) 797-6380;Carnival Corporation & plc
Investor Relations Contact: Beth Roberts, Carnival Corporation,
eroberts@carnival.com, (305) 406-4832

This information was brought to you by Cision http://news.cision.com

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