Carnival PLC CCL Term Loan Facility Amendment

 
TIDMCCL 
 
Carnival Corporation and Carnival plc Announce Amendment of Term Loan Facility 
 
Miami (June 30, 2021) - Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) 
announcement that a joint Current Report on Form 8-K was filed with the U.S. 
Securities and Exchange Commission (the "Commission").  As described in the 
joint Current Report on Form 8-K, on June 30, 2021 (the "Effective Date"), 
Carnival Corporation (the "Company") entered into Amendment No. 2 to Term Loan 
Agreement, by and among the Company and Carnival Finance, LLC, as borrowers, 
Carnival plc, as a guarantor, certain other subsidiary guarantors party 
thereto, and JPMorgan Chase Bank, N.A., as administrative agent (the "Amendment 
"). The Amendment amended the Company's first-priority senior secured term loan 
facility entered into on June 30, 2020 (the "Original Closing Date") (the "Term 
Loan Facility"), which consists of a tranche in an original aggregate principal 
amount of $1,860 million and a tranche in an original aggregate principal 
amount of ?800 million, each of which matures on June 30, 2025. The Amendment 
amended the Term Loan Facility to, among other things, reduce the interest rate 
to a rate per annum equal to (x) with respect to loans funded in U.S. dollars, 
adjusted LIBOR with a 0.75% floor, plus a margin equal to 3.00% (which is 4.50% 
per annum lower than the LIBOR margin under the Term Loan Facility prior to the 
Amendment), or (y) with respect to loans funded in Euro, EURIBOR with a 0.00% 
floor, plus a margin equal to 3.75% (which is 3.75% per annum lower than the 
EURIBOR margin under the Term Loan Facility prior to the Amendment). 
 
PJT Partners is serving as independent financial advisor to Carnival 
Corporation and Carnival plc. 
 
The description of the Amendment and the Term Loan Facility above is qualified 
in its entirety by reference to the text of the Amendment, which is attached as 
Exhibit 10.1 to the joint Current Report on Form 8-K and is incorporated by 
reference into this announcement. 
 
A copy of the joint Current Report on Form 8-K is available in the Investor 
Relations section of the Carnival Corporation & plc website at 
wwww.carnivalcorp.com or www.carnivalplc.com, within SEC Filings under the 
Financial Information section. 
 
MEDIA CONTACT                             INVESTOR RELATIONS CONTACT 
 
Roger Frizzell                            Beth Roberts 
 
001 305 406 7862                          001 305 406 4832 
 
#33437669v1 - UK Announcement - Term Loan B Amendment 
 
 
 
END 
 
 

(END) Dow Jones Newswires

July 01, 2021 02:00 ET (06:00 GMT)