Carnival Corporation & plc [CUK] moved down -2.05: Why It's

Carnival Corporation & plc [CUK] moved down -2.05: Why It's Important


Caleb Clifford
April 9, 2021
Misty Lee
March 19, 2021
Carnival Corporation & plc [NYSE: CUK] slipped around -0.45 points on Monday, while shares priced at $21.48 at the close of the session, down -2.05%. The company report on July 6, 2021 that Carnival Corporation & plc Announces Tender Offer For Its 11.5% Senior Secured Notes Due 2023 Subject To Refinancing Conditions.
Carnival Corporation & plc announced that Carnival Corporation (the “Issuer”), a company organized and existing under the laws of the Republic of Panama, commenced a tender offer to purchase for cash (the “Tender Offer”) up to $2,004,000,000 aggregate principal amount (the “Maximum Tender Amount”) of its 11.500% First Priority Senior Secured Notes due 2023 (the “Notes”) (CUSIP Nos. 143658 BC5 / P2121V AE4; ISIN NOS. US143658BC57 / USP2121VAE40) and a solicitation of consents (the “Consent Solicitation”) for proposed amendments to the related indenture. The Tender Offer and the Consent Solicitation are being made on the terms and subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement dated July 6, 2021 (the “Statement”). The Tender Offer will expire at 11:59 p.m., New York City time, on August 2, 2021, unless extended or earlier terminated by the Issuer in its sole discretion, subject to applicable law (such time and date, as the same may be extended or earlier terminated, the “Expiration Time”). In addition, the Issuer is also offering to pay the Early Tender Payment (as defined below) to each holder of the Notes (“Holder”) who validly tenders (and does not validly withdraw) its Notes and thereby validly delivers (and does not validly revoke), at or prior to 5:00 p.m., New York City time, on July 19, 2021, unless extended or earlier terminated (such time and date, as the same may be extended or earlier terminated, the “Early Tender/Consent Deadline”), its Consent (as defined below) to the Proposed Amendments (as defined below). Holders have the option either to tender their Notes in the Tender Offer and thereby Consent to the Proposed Amendments in the Consent Solicitation or to not tender their Notes in the Tender Offer but to Consent to the Proposed Amendments in the Consent Solicitation. In order to validly deliver Consents without tendering Notes, Holders must deliver Consents prior to the Early Tender/Consent Deadline. No Consent Payment (as defined below) will be made with respect to Consents delivered after the Early Tender/Consent Deadline. If the aggregate principal amount of Notes validly tendered and not validly withdrawn at the Early Tender/Consent Deadline is equal to or in excess of the Maximum Tender Amount, the Issuer may, in its sole discretion, not accept any Notes tendered after the Early Tender/Consent Deadline.

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