Carnival Corporation to Refinance $993 Million in Debt with New Notes Offering

Carnival Corporation & plc ( NYSE: CUK) announced on May 12 that it has initiated a $1 billion private offering of new senior unsecured notes due 2031. The proceeds will be used to redeem its existing $993 million 7.625% senior unsecured notes maturing in 2026, aiming to reduce interest expenses and manage debt maturities. The redemption is set for May 22, 2025, and is contingent on the successful completion of the new notes offering. The new notes will be issued to qualified institutional buyers under Rule 144A and to non-U.S. investors under Regulation S.

Carnival Corporation to Build New Global Headquarters in Miami

Carnival Corporation announced on May 5, 2025, the purchase of property in Miami’s Waterford Business District to develop its new global headquarters. The campus, slated for completion in 2028, will unite over 2,000 North America shoreside employees from Carnival Cruise Line, Princess, Holland America, Seabourn, Cunard, and Costa into one modern, collaborative workplace.

The planned headquarters will include 600,000–700,000 square feet of office and training space, designed to enhance innovation, teamwork, and adaptability, with open areas, private workspaces, and high-tech infrastructure. The project reinforces Carnival’s 50+ year commitment to Miami-Dade County and is expected to add hundreds of high-paying jobs.

State and local leaders, including Florida's Secretary of Commerce and Miami-Dade’s Mayor, welcomed the investment, calling it a strategic move that strengthens Miami’s status as a global business and cruise hub. The site, near Miami International Airport, places Carnival within a thriving business corridor rich in infrastructure and talent.

Princess Cruises has announced its 2027 World Cruise Grand Circle Pacific Voyage, a 129-day journey aboard the Coral Princess that will visit 61 destinations across 20 countries and three continents.

Departing from Ft. Lauderdale on January 6, 2027, with alternate 114- and 110-day departures from Los Angeles, the cruise includes highlights such as the Panama Canal, four Hawaiian Islands, the South Pacific, Australia, New Zealand, Southeast Asia, Japan, and Alaska. The itinerary features access to 23 UNESCO World Heritage Sites and includes nine late-night stays and an overnight in Hong Kong. Early booking by October 3, 2025, includes complimentary Wi-Fi, air credits, transfers, and up to $1,500 onboard credit per person.

Seabourn Unveils 2026–2027 Season Featuring New Japan, Caribbean, and Southeast Asia Itineraries

Seabourn has announced its ultra-luxury cruise itineraries for the 2026–2027 fall, winter, and spring seasons, offering 31 departures to 73 destinations in 30 countries. The new sailings on Seabourn Encore, Seabourn Ovation, and Seabourn Quest include first-time spring voyages in Japan and expanded offerings in the Caribbean and Southeast Asia.

Highlights include:
- Two spring voyages in Japan during plum blossom season, plus cherry blossom sailings from Tokyo in March–April 2027.
- Caribbean itineraries on Seabourn Ovation and Seabourn Quest featuring boutique ports like Little Bay, Montserrat, and signature events such as Caviar in the Surf.
- Southeast Asia cruises from Singapore and Hong Kong with port visits to Penang, Ko Kood, and Ho Chi Minh City, plus optional overland journeys to Angkor Wat and Luang Prabang.
- Holiday cruises across all three ships, including a 22-day Southeast Asia itinerary on Seabourn Encore and a 14-day roundtrip Caribbean voyage from Barbados.

The new itineraries offer access to up to 30 UNESCO World Heritage Sites and immersive experiences like Shopping with the Chef, Marina Day, and regional cultural excursions.

Guests who book by May 14, 2025, can save up to 10% with Seabourn's Early Booking Advantage.

Carnival to Redeem $350 Million of 2026 Senior Notes in Continued Deleveraging Strategy

Carnival Corporation announced the redemption of $350 million in outstanding principal of its $1.4 billion 7.625% senior unsecured notes due in 2026. The redemption will occur on May 1, 2025, at a price equal to 100% of the principal amount, plus accrued and unpaid interest up to, but not including, the redemption date.

The move is part of Carnival's ongoing efforts to deleverage its balance sheet and reduce interest expenses. The company emphasized that this action reflects its strategic financial management and continued recovery efforts.

This notice does not constitute an official redemption notice, which has been issued separately.

Carnival Corporation and Carnival plc Shareholders Approve All Proposals at 2025 Annual Meetings

On April 16, 2025, Carnival Corporation and Carnival plc held their annual meetings of shareholders. A total of over 967 million votes were cast, and all director nominees were re-elected to serve until the next annual meeting. Shareholders also approved all other proposals recommended by the Boards of Directors.

Key approvals included advisory votes on executive compensation and the Carnival plc Directors’ Remuneration Report and Policy. Deloitte LLP was appointed as Carnival plc's independent auditor, and Deloitte & Touche LLP was ratified for Carnival Corporation. Shareholders also approved authority for the allotment of new shares, disapplication of pre-emption rights, and an amendment to the 1993 Employee Stock Purchase Plan.

The meetings reflect continued shareholder support for Carnival’s leadership, compensation practices, and corporate governance structure.

Cunard launches 'Adventure Awaits Sale' for 2025–2026 voyages

Valencia, Calif., April 17, 2025 – Cunard, the luxury British cruise line, has introduced its 'Adventure Awaits Sale', offering savings of up to 50 percent off launch fares on more than 100 voyages scheduled in 2025 and 2026. The promotion runs from April 17 through April 30, 2025, and applies to the first two guests per booking.

Voyages included in the sale:

– Alaska cruises from Seattle aboard Queen Elizabeth: itineraries range from seven to eleven nights, with scenic cruising through Glacier Bay, Hubbard Glacier, and Tracy Arm Fjord, along with stops in Juneau, Ketchikan, Skagway, Sitka, and Icy Strait Point.

– Transatlantic crossings on Queen Mary 2: seven- and eight-night sailings between New York and Southampton aboard the world’s only ocean liner.

– Caribbean cruises from Miami aboard Queen Elizabeth: the ship's maiden Caribbean season includes calls at ports such as St. Thomas, Bridgetown, Philipsburg, and Barbados.

The promotion also features select voyages on Queen Anne, Cunard’s newest ship that entered service in May 2024.

Holland America Line Extends 2026 Europe Season With Four New Cruises

Holland America Line announced a six-week extension to its 2026 Europe cruise season, unveiling four new voyages aboard the Nieuw Statendam. These new itineraries include deeper exploration of the Mediterranean, Norway, and a highly anticipated Arctic Circle cruise for Northern Lights viewing.

Key highlights include:
- 14-Day Arctic Journey and Northern Lights with The HISTORY Channel (Departs Nov. 7): A special Northern Lights-focused cruise visiting Ålesund, Trondheim, Tromsø, Alta (overnight), and Leknes, with a wake-up call service when the aurora is visible.
- 14-Day Mediterranean and Atlantic Treasures (Departs Nov. 21): A roundtrip from Rotterdam with stops in Spain, Portugal (including an overnight in Lisbon), and Gibraltar — the line's first roundtrip Mediterranean sailing from Rotterdam in nearly a decade.
- Additional options include a 7-Day Norway with Nordfjord and a 15-Day Cultural Crossing with England and Normandy.

Guests booking early with the “Have It All” package will receive added benefits like free prepaid gratuities and beverage and Wi-Fi upgrades. Loyalty members can earn up to $400 onboard credit if they book by July 9, 2025.

More details are available at hollandamerica.com.

Princess Cruises and Frescobaldi Introduce Tuscan-Inspired Dining Experience at Sea

Princess Cruises has partnered with the renowned Frescobaldi winemaking family to launch a new Tuscan dining experience aboard Majestic Princess. Sabatini's Italian Trattoria, the cruise line’s signature specialty restaurant, now features a revamped menu inspired by Frescobaldi’s culinary traditions and wines, including a Grand Tuscan Dinner to be offered once per sailing.

The updated Sabatini’s menu includes six new dishes inspired by Frescobaldi’s restaurant in Florence. These offerings reflect Tuscany’s culinary heritage and include dishes such as Guazzetto di Cozze e Gamberi (Italian seafood stew), Burrata with aged prosciutto, and Truffle Parmigiano Fettuccine. Each dish is paired with premium Frescobaldi wines to enhance the onboard dining experience.

The Grand Tuscan Dinner is a six-course culinary journey that highlights dishes such as Mediterranean tuna and scallop carpaccio with caviar and black truffle, and Branzino with Sicilian caponata. This exclusive dinner includes wine and grappa pairings and is available at a cover charge of $99 per person.

The collaboration also introduces a new selection of Frescobaldi wines and five signature Italian-inspired cocktails crafted to reflect the essence of Tuscany. Highlights include the Gorgona Breeze, Chianti Sunset, and the Mormoreto Old Fashioned made with red wine reduction and Tuscan herbs.

Princess Cruises' VP of Food and Beverage, Sami Kohen, said the partnership celebrates the destinations visited on voyages by bringing their flavors onboard. Lamberto Frescobaldi, president of Marchesi Frescobaldi, added that the collaboration allows guests to experience the harmony of Tuscan cuisine and wine in a new setting.

The new Frescobaldi-inspired Sabatini’s experience is now available on Majestic Princess, with plans for a fleetwide rollout in the coming months. Reservations can be made via the Princess app or by calling the Dine Line.

For more information, visit [www.princess.com](http://www.princess.com) or call 1-800-774-6237.

Carnival Corporation Orders Two Next-Generation AIDA Cruises Ships for Delivery in 2030 and 2032

Carnival Corporation & plc has finalized an agreement with Italian shipbuilder Fincantieri for two new mid-sized AIDA Cruises ships, set to be delivered in fiscal years 2030 and 2032. These multi-fuel-capable vessels, each with around 2,100 cabins, will fall between AIDA’s current Hyperion and Helios classes in terms of size.

The ships will be equipped with engines that can run on a range of fuels, including low- and zero-carbon options like bio and synthetic fuels, supporting Carnival’s sustainability goals. AIDA President Felix Eichhorn noted the new class will offer innovative features and strengthen the brand’s leadership in the German cruise market.

The announcement brings Carnival Corporation’s total newbuild pipeline to eight ships between 2025 and 2033. CEO Josh Weinstein emphasized the company’s disciplined growth strategy and its focus on high-performing brands such as AIDA and Carnival Cruise Line.

The order is contingent on financing, expected to be completed later this year. Design details and itineraries for the new ships will be released in the future.

Carnival plc Reports Total Voting Rights as of March 31, 2025

As of 9:00 a.m. Eastern Time on March 31, 2025, Carnival plc announced it had 217,406,012 issued ordinary shares of US $1.66 each admitted to trading. Of these, 29,150,366 shares are held in treasury. Although the company has 188,255,646 issued and outstanding shares, 24,901,144 shares held by Carnival Investments Limited and 17,975,128 shares held by Carnival Corporation are non-voting under the company’s Articles of Association. Accordingly, the total number of voting rights in Carnival plc stands at 145,379,374. This figure should be used by shareholders for any required notifications under the FCA's Disclosure and Transparency Rules.

Carnival Corporation and Carnival plc announced the completion of their previously disclosed private offering of $1.0 billion in 5.750% senior unsecured notes due 2030. The company used the proceeds, along with cash on hand, to redeem $1.0 billion of its 10.500% senior unsecured notes due 2030.

The newly issued notes will mature on March 15, 2030, with interest payable semi-annually starting September 15, 2025. They are guaranteed on a senior unsecured basis by Carnival plc and certain subsidiaries. Prior to December 15, 2029, the company may redeem the notes at a price equal to 100% of their principal amount plus a "make-whole" premium. After that date, they may be redeemed at par plus accrued interest.

The indenture governing the notes includes restrictions on liens, mergers, and asset transfers. It also requires the company to offer to repurchase the notes at 101% of their principal amount plus interest in the event of a change of control. The notes were sold to qualified institutional buyers under Rule 144A and to non-U.S. investors under Regulation S and will not be registered under U.S. securities laws.

A press release announcing the transaction was issued on February 28, 2025, and is included as Exhibit 99.1 in the company's filing.