Aug 2020
Between July 2020 and August 2020 Conyers advised Carnival Corporation on two private offerings totalling $US8.8 billion.
The private offering of $775 million aggregate principal amount of 10.775% second-priority senior secured notes due 2026 and EUR425 million aggregate principal amount of 10.125% second-priority senior secured notes due 2026 (the “Notes”), closed on 20 July 2020. The private offering of $900 million aggregate principal amount of 9.875% second-priority senior secured notes due 2027 (the “Notes”) closed on 18 August 2020.The Notes were guaranteed by Carnival plc and certain of Carnival Corporation and Carnival plc’s subsidiaries that own and operate their vessels, including Princess Cruise Lines, Ltd and Seabourn Cruise Line Limited, companies incorporated in Bermuda. In addition to pledges of stock over these companies, mortgages were taken over many of the vessels owned by Carnival Corporation, Carnival plc and their subsidiaries including vessels registered in Bermuda.
In February 2021 Conyers advised Carnival Corporation on its public offering of 40,450,616 shares of its common stock at a public offering price of $25.10 per share. The offering was unsecured and raised US$1.1 billion.
Conyers Diretor Victor Richards and Associate Alexis Haynes advised on this matter, working alongside Norton Rose Fulbright LLP and London Paul Weiss.