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Carnival Corporation & plc Announces Closing of $3.5 Billion 5.75% Senior Unsecured Notes due 2027

Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) announced that Carnival Corporation (the "Corporation") has closed its private offering of $3.5 billion aggregate principal amount of 5.75% senior unsecured notes due 2027 (the "Unsecured Notes").

The Corporation expects to use the net proceeds from the offering of the Unsecured Notes to make scheduled principal payments on debt during 2021 and for general corporate purposes, including, without limitation, the financing or refinancing of a portion of the purchase price, rental payments, costs and expenses related to certain of our current and future property, plant and equipment (including leased assets and vessels) and their repair, replacement and improvements, as well as any other payments related to our vessels' ready-for-sea costs, in each case to the extent such amounts are not covered by the Corporation's existing and future export credit facilities.

The Unsecured 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 Unsecured Notes 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 a solicitation of an offer to buy the Unsecured Notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation or sale would be unlawful.

PJT Partners is serving as independent financial advisor to Carnival Corporation & plc.

Feb 17 2021


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