03:49 AM EDT, 05/13/2025 (MT Newswires) -- Carnival (CCL) said late Monday that it priced a $1 billion private offering of 5.875% senior unsecured notes due 2031.

Net proceeds from the offering, which is set to close May 21, will be used to redeem $993 million of its 7.625% senior unsecured notes due 2026.

The move is part of Carnival's ongoing strategy to lower interest expenses and manage debt maturities, with an estimated annual interest expense reduction of more than $20 million, the company said.