Simpson Thacher represented the initial purchasers, led by J.P. Morgan, in connection with the private offering by Carnival Corporation (NYSE: CCL) of an aggregate principal amount of $775 million of 10.5% Second-Priority Senior Secured Notes due 2026 and an aggregate principal amount of €425 million of 10.125% Second-Priority Senior Secured Notes due 2026.
Carnival Corporation intends to use the net proceeds from these offerings for general corporate purposes.
Carnival Corporation is one of the world’s largest leisure travel companies with operations in North America, Australia, Europe and Asia.
The Simpson Thacher team for the transaction included Art Robinson, Roxane Reardon, Lesley Peng, John O’Connell, Eva Kang, Evan Zuckerman, Hadley Dryland, Lia Toback and Christine Turner (Capital Markets); Patrick Ryan, Ben Persina, Robyn Cho, Michael Ratay, Michael Brennan and Pia Figuerola (Credit); Jon Pall and Soogy Lee (Collateral); Marcy Geller, Sophie Staples and Scott Grundei (Tax); Jennifer Neilsson (Executive Compensation and Employee Benefits); Adeeb Fadil and Timothy Mulvihill (Environmental); Steve DeLott (Insurance); Genevieve Dorment (Intellectual Property); and Jennie Getsin (FINRA and Blue Sky).