Deals
Carnival Said to Prep Bond Sale for Next Week to Buy Back Debt
- Early pricing discussions are in the range of 4%-4.125%
- New deal will replace up to half of existing 11.5% notes
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Carnival Corp. is looking to slash borrowing costs with the sale of new junk bonds that would refinance debt that the cruise operator sold at the height of the pandemic at almost triple the cost.
The new offering may be sold as soon as next week, and early pricing discussions are in the 4%-4.125% range, according to people with knowledge of the transaction.