04:30 PM EST, 02/28/2025 (MT Newswires) -- Carnival (CCL) said late Friday it completed a private offering of $1 billion of 5.750% senior unsecured notes maturing in 2030.

The company used the proceeds and cash on hand to redeem $1 billion of 10.500% senior unsecured notes due 2030, reducing interest expense by over 4.5%.

The offering and redemption are expected to reduce net annual interest expense by approximately $45 million, Carnival said.