Carnival Corp has increased the amount of money it is borrowing, with the expectation that it will save millions of dollars in interest payments on high-interest notes.

The Arnold Donald-led owner of 91 ships has entered into a $2.3bn term loan facility with an undisclosed lender after putting out feelers last week for a $1.5bn commitment.

New York-listed Carnival plans to use the first-priority senior secured term loan to redeem $2bn of remaining 11.5%