Carnival Corp ‘still excited’ about Iona despite launch delay

Posted on 18 April, 2020 by Spacejunkie2

Carnival Corporation is “still excited” about new P&O Cruises ship Iona, despite its launch being delayed by the coronavirus crisis. The cruise giant also confirmed it was engaged in conversations with shipyards about potential delays and cancellations.

Chief executive Arnold Donald said: “This virus has been devastating for the travel and tourism industry. Most of the newbuild timelines will be delayed. Most of the yards are closed or don’t have workers.

“Beyond that, we are working with the yards to look at schedules and decide should any of the ships be cancelled or pushed out further.”

Commenting on Iona, which was due to enter service in May but has been delayed due to the lockdown, Donald said: “We need to make sure the ship gets finished. But we are still excited about her and the level of bookings that she had.

“Iona will be finished and at some point, when the world is ready, she will be sailing. We don’t know exactly when, but over time we will have a great cruise industry again. We are going to have to build it back.”

Carnival Corporation Announces Offering of Common Stock

Posted on 31 March, 2020 by Spacejunkie2

Carnival Corporation today announced that it has commenced an underwritten public offering of $1.25 billion of shares of common stock of the Corporation, according to a statement.

The Corporation intends to grant the underwriters an option to purchase up to $187.5 million of additional shares. The Corporation expects to use the net proceeds from the offering for general corporate purposes.

The Corporation also announced by a separate press release that it has commenced private offerings to eligible purchasers of $3 billion aggregate principal amount of first-priority senior secured notes due 2023 and $1.75 billion aggregate principal amount of senior convertible notes due 2023 (or up to $2.0125 billion aggregate principal amount if the initial purchasers exercise in full their option to purchase additional convertible notes). Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy the senior secured notes or the convertible notes. None of the closings of the offerings of shares of common stock, senior secured notes or convertible notes is conditioned upon the closing of any of the other offerings or vice versa.