Carnival PLC CCL Term Loan Facility Amendment
July 01 2021 - 01:00AM
UK Regulatory
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
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