Carnival Corporation has successfully arranged a new $4.5 billion multi-currency revolving credit facility. The new revolver matures in June 2030 and will replace the existing multi-currency revolving credit facility of Carnival Holdings (Bermuda) II Limited, a subsidiary of Carnival Corporation. The new revolver also contains an accordion feature, allowing for up to $1 billion of additional revolving commitments.
“This 50% increase in our revolver meaningfully enhances our liquidity, providing opportunities to continue accelerating our debt reduction efforts,” David Bernstein, chief financial officer of Carnival Corporation, said. “Securing this significant upsize and extension to our revolver, on more favorable terms, also reflects confidence in our continued performance and achieves another milestone toward rebuilding our financial fortress.”
The New Revolver will be unsecured and initially guaranteed on an unsecured basis by the same subsidiaries of the company that guarantee the company’s senior secured term loan facilities. Carnival Corporation and Carnival, each as a borrower, are entering into the new revolver with a global syndicate of financial institutions and JPMorgan Chase Bank as administrative agent.
