MIAMI, April 30 /PRNewswire-FirstCall/ -- Carnival Corporation & plc(NYSE/LSE: CCL; NYSE: CUK) announced today that holders of $467,047,000aggregate principal amount at maturity of its Senior Convertible Debenturesdue 2033 had exercised their right to have the Company repurchase their SeniorConvertible Debentures pursuant to the Indenture. The Company repurchased theSenior Convertible Debentures at a price of $646.88 per $1,000 principalamount at maturity, plus accrued and unpaid interest. As of April 30, 2008,$421,953,000 aggregate principal amount at maturity of the Senior ConvertibleDebentures remain outstanding.
The Indenture governing the Senior Convertible Debentures was amended onApril 25, 2008 to add additional semi-annual cash interest payments at a rateof 0.50% per annum through October 29, 2009 and certain other covenants andagreements for the benefit of the holders of the Senior ConvertibleDebentures. 'We're pleased with the results of the amendment process as wewere able to keep almost half of this debt outstanding at a very attractiverate,' said David Bernstein, Carnival Corporation & plc's Senior VicePresident and Chief Financial Officer.
Pursuant to the Indenture, as so amended, holders of the SeniorConvertible Debentures will also have the opportunity to require the Companyto repurchase their Senior Convertible Debentures on each of October 29, 2009,April 29, 2013, April 29, 2018, April 29, 2023 and April 29, 2028. Theamendments are described in more detail in a Current Report on Form 8-K filedby the Company on April 25, 2008.
Carnival Corporation & plc is the largest cruise vacation group in theworld, with a portfolio of cruise brands in North America, Europe andAustralia, comprised of Carnival Cruise Lines, Holland America Line, PrincessCruises, The Yachts of Seabourn, AIDA Cruises, Costa Cruises, Cunard Line,Ibero Cruises, Ocean Village, P&O Cruises and P&O Cruises Australia.
Together, these brands operate 86 ships totaling more than 162,000 lowerberths with 20 new ships scheduled to enter service between July 2008 and June2012. Carnival Corporation & plc also operates Holland America Tours andPrincess Tours, the leading tour companies in Alaska and the Canadian Yukon.Traded on both the New York and London Stock Exchanges, Carnival Corporation &plc is the only group in the world to be included in both the S&P 500 and theFTSE 100 indices.
SOURCE Carnival Corporation & plc
