Simpson Thacher represented the initial purchasers in connection with the private offering by Carnival Corporation (NYSE: CCL) (“Carnival”) of an aggregate principal amount of approximately $500 million of 7% First-Priority Senior Secured Notes due 2029.
Simpson Thacher also represented the joint bookrunners, led by JPMorgan Chase Bank, N.A., in connection with a new $1.3 billion first-priority senior secured term loan B credit facility.
Carnival used the net proceeds from the transactions to repay a portion of borrowings outstanding under its existing term loan B credit facility.
Carnival 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 John C. Ericson, John O’Connell, Jieun Lim, Pia Figuerola and Neil Patel (Capital Markets); Patrick Ryan, Matthew Farrell, Christine Marshall and Tenzin Dolkar (Credit); Jonathan Pall (Collateral); Michael Mann and Scott Grundei (Tax); Pasco Struhs (Executive Compensation and Employee Benefits); Rachelle Broida and Courtney Welshimer (Intellectual Property); and Jennie Getsin (Blue Sky).