Carnival Refinances More Debt With New $1 Billion Bond

Carnival Corp. issued bonds for the third time this year, as the cruise operator chips away at a debt load that had ballooned during the Covid-19 pandemic.

Monday’s $1 billion offering of senior unsecured notes will be used to refinance 7.625% notes maturing next year, according to a person familiar with the matter. The new notes priced at 5.875%, the person said, at the low end of initial pricing discussions of up to 6%.