Simpson Thacher represented J.P. Morgan, Goldman Sachs & Co. LLC and BofA Securities in connection with the private offering by Carnival Corporation (NYSE: CCL) of an aggregate principal amount of $4 billion of 11.5% First-Priority Senior Secured Notes due 2023.
Concurrently, the Firm represented BofA Securities, Goldman Sachs & Co. LLC and J.P. Morgan in connection with the private offering by Carnival Corporation of an aggregate amount of approximately $2.01 billion of 5.75% Convertible Senior Notes due 2023 (the “Convertible Notes”), inclusive of Convertible Notes sold pursuant to the initial purchasers’ full exercise of their option to purchase additional Convertible Notes, and the registered public offering by Carnival Corporation of 71,875,000 shares of its common stock, inclusive of shares sold pursuant to the underwriters’ full exercise of their option to purchase additional shares, for $575 million in the aggregate.
Carnival Corporation intends to use the net proceeds from these offerings for general corporate purposes.
Carnival Corporation is the world’s largest leisure travel company with operations in North America, Australia, Europe and Asia.
The Simpson Thacher team for the transaction included Art Robinson, Roxane Reardon, Lesley Peng, Lia Toback, John O’Connell, Sean Dougherty, Evan Zuckerman, Richie Ragusa, Crystal Oparaeke, Jessica Jeong, Arielle Trapp, Kyle Schwab and Xochitl Romo (Capital Markets); Patrick Ryan, Jessica Tuchinsky, Matt Farrell, Leah Nudelman and Michael Brennan (Credit); Jon Pall (Collateral); Marcy Geller and Sophie Staples (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).