Carnival’s $1.26 Billion Second-Priority Senior Secured Notes Offering

Simpson Thacher represented the initial purchasers, led by J.P. Morgan, in the offering.

Carnival Corporation (NYSE: CCL) executed the offering of an aggregate principal amount of $775 million of 10.5% Second-Priority Senior Secured Notes due 2026 and an aggregate principal amount of €425 million of 10.125% Second-Priority Senior Secured Notes due 2026.

Carnival Corporation intends to use the net proceeds from these offerings for general corporate purposes.

Carnival Corporation is one of the world’s largest leisure travel companies with operations in North America, Australia, Europe and Asia.

The Simpson Thacher team for the initial purchasers included Art Robinson (Picture), Roxane Reardon, Lesley Peng, John O’Connell, Eva Kang, Evan Zuckerman, Hadley Dryland, Lia Toback and Christine Turner (Capital Markets); Patrick Ryan, Ben Persina, Robyn Cho, Michael Ratay, Michael Brennan and Pia Figuerola (Credit); Jon Pall and Soogy Lee (Collateral); Marcy Geller, Sophie Staples and Scott Grundei (Tax); Jennifer Neilsson (Executive Compensation and Employee Benefits); Adeeb Fadil and Timothy Mulvihill (Environmental); Steve DeLott (Insurance); Genevieve Dorment (Intellectual Property); and Jennie Getsin (FINRA and Blue Sky).

Involved fees earner: Michael Brennan – Simpson Thacher & Bartlett; Robyn Cho – Simpson Thacher & Bartlett; Steven DeLott – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Hadley Dryland – Simpson Thacher & Bartlett; Adeeb Fadil – Simpson Thacher & Bartlett; Pia Figuerola – Simpson Thacher & Bartlett; Marcy Geller – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Scott Grundei – Simpson Thacher & Bartlett; Eva Kang – Simpson Thacher & Bartlett; Hyang-Sook Lee – Simpson Thacher & Bartlett; Timothy Mulvihill – Simpson Thacher & Bartlett; Jennifer Neilsson – Simpson Thacher & Bartlett; John O’Connell – Simpson Thacher & Bartlett; Jonathan Pall – Simpson Thacher & Bartlett; Lesley Peng – Simpson Thacher & Bartlett; Benjamin Persina – Simpson Thacher & Bartlett; Michael Ratay – Simpson Thacher & Bartlett; Roxane Reardon – Simpson Thacher & Bartlett; Arthur Robinson – Simpson Thacher & Bartlett; Patrick Ryan – Simpson Thacher & Bartlett; Sophie Staples – Simpson Thacher & Bartlett; Lia Toback – Simpson Thacher & Bartlett; Christine Turner – Simpson Thacher & Bartlett; Evan Zuckerman – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: J.P. Morgan Securities LLC;

Author: Ambrogio Visconti