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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
JPMorgan Chase Bank Coordinates $2.3B Term Loan for Carnival
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Lenders/Participants
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JPMorgan Chase Bank [Sole Global Coordinator]
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Structure
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Senior Secured Term Loan
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Amount
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$2.300
Billion
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Borrower(s)
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Carnival Corporation & plc
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Description
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Company successfully completed the syndication of its $2.3 billion first-priority senior secured term loan facility, which the Company intends to use to redeem its 11.5% First Priority Senior Secured Notes due 2023. The new Term Loan Facility will bear interest at a rate per annum equal to adjusted LIBOR with a 0.75% floor, plus a margin equal to 3.25% and will mature in 2028. The refinancing transaction will generate annual interest savings of over $135 million and extend maturities. The Term Loan Facility is expected to be implemented via Incremental Assumption Agreement and Amendment No. 4 to the existing term loan agreement dated June 30, 2020, which is expected to close on October 18, 2021, subject to customary closing conditions and the execution of definitive documentation.
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Industry
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Hospitality
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| Related Tags |
JPMorgan Chase Bank
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ABL Advisor
Deal Tables
2025
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