04:29 PM EDT, 05/21/2025 (MT Newswires) -- Carnival (CCL) said late Wednesday it closed a private offering of $1 billion of 5.875% senior unsecured notes due 2031.

Proceeds will be used to redeem the company's $993 million 7.625% senior unsecured notes due 2026, with the redemption scheduled for May 22.

Carnival said the transaction, along with a prior partial redemption of the 2026 notes, is expected to reduce net interest expense by more than $20 million through the notes' original maturity.