Carnival Corp is giving some investors in its debt a chance to own some of the cruiseship giant in exchange for convertible notes.
The Arnold Donald-led shipowner has priced a direct offering of 99.2m common shares at $14.02 per share to a limited number of holders of its 5.75% convertible senior notes due 2023. This equates to about $1.39bn.
New York-listed Carnival plans to use the money to repurchase $886m of the debt securities' principal in privately negotiated transactions.
