Carnival profits from share buybacks, revised term loan and cruises

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Written by Dhirendra Tripathi

Investing.com – Carnival (NYSE: CCL) is up 1% on Thursday, thanks to a share buyback program, renegotiation of cheaper loans and the launch of new cruises.

Carnival is following a two-step process in which US-based Carnival Corp sells its shares to raise up to $ 500 million in a market offering.

Carnival Corp could use the same money to buy 18.38 million shares of Britain’s Carnival Plc (LON: CCL), which could last until January 31 next year.

The US division intends to sell shares in the offer only when Carnival Plc common stock is trading on the UK market at a discount to Carnival Corp common stock. As a result, both will benefit economically from the placement. and the use of proceeds.

Carnival was also in talks with its banks to cut interest on two of its loans by $ 1.86 billion and € 800 million (approximately $ 952 million) in principal.

The cruise operator today confirmed that sailing for Alaska will begin on 25 July.

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