financing

Sometimes a little knowledge is just confusing, but a recent flurry of unusual, financing-related press releases from Carnival Corp caught our attention and got us wondering about the implications....

MIAMI, April 30, 2008 -- Carnival Corp is paying out some $470 million to repurchase debentures from debt holders who exercised their option for repurchase of Senior Convertible Debentures due 2033. This represents slightly more than half of these debentures, and follows an interest payment increase announced April 25.

MIAMI, April 25, 2008 -- With interest rates generally on the rise and a few CCL debt-holders recently exercising their option to cash out, Carnival Corp announced today it is enhancing the attractiveness of some of its debt, specifically $733M worth of Senior Convertible Debentures due 2033, which were originally priced in 2003.

MIAMI, April 16, 2008 -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) announced today that holders of $117,000 aggregate principal amount of its 2% Convertible Senior Debentures due 2021 had exercised their right to have the Company repurchase their 2% Convertible Senior Debentures pursuant to the Indenture.

MIAMI, April 23, 2003 - Carnival Corp today announced an offering of convertible senior debentures. If fully subscribed, this sale will raise $500 million in gross proceeds for the corporation.