Carnival Corporation - CCL STOCK NEWS

Carnival Corporation has reported the successful early results of its tender offer to purchase up to $2.0 billion of its 11.5% First Priority Senior Secured Notes. With consent from 85.19% of note holders, $2.4 billion worth of notes have been tendered, surpassing the target amount. The tender offer remains conditional on financing, and cash payments to holders who provided consent are expected upon satisfaction of conditions. The transaction aims to enhance financial flexibility amid ongoing market challenges.

Carnival Cruise Line is set to resume operations for three additional ships in September and four in October, increasing the total to 15 ships as part of their ongoing restart plan. The ships include Carnival Glory, Carnival Pride, and Carnival Dream starting in September, followed by Carnival Conquest, Carnival Freedom, Carnival Elation, and Carnival Sensation in October. While unvaccinated guests can still sail, they will face additional health and testing protocols. Carnival emphasizes maintaining safety and confidence with its destination partners as they work towards full fleet operation by year-end.

Seabourn has announced the launch of new cruises for Seabourn Ovation, starting from Miami between November 2021 and April 2022. The itinerary includes three 11-day Caribbean voyages visiting San Juan, Guadeloupe, and St. Kitts & Nevis. Unique guest experiences include Caviar in the Surf and Marina Day. The ship will also transit the Panama Canal on a 21-Day Holiday voyage from Miami to Los Angeles on December 21. Guests booking by August 31, 2021 can receive $1,000 to $2,000 shipboard credit.

Cunard has announced the launch of its 'Grand Escape Voyages,' featuring over 40 new itineraries commencing October 2021 and running through May 2022. The flagship vessels, Queen Mary 2, Queen Elizabeth, and Queen Victoria, will visit 49 destinations including the Caribbean, Western Europe, and Asia. Cruises range from 2 to 40 nights, with fares for a 14-night Caribbean voyage starting at $1,499. Guests can benefit from several promotional offers, including free onboard credits and upgrades.

Carnival Corporation announced a tender offer to acquire up to $2,004,000,000 of its 11.500% First Priority Senior Secured Notes due 2023. The offer commences on July 6, 2021, and will expire on August 2, 2021. Holders can receive a total consideration of $1,142.50 for each $1,000 principal amount of notes tendered by July 19, 2021. This initiative aims to reduce interest expenses and align covenants with a recently repriced Term Loan Facility. The company may not accept notes tendered after the Early Tender/Consent Deadline if the maximum principal amount is reached.

Carnival Cruise Line marked its first cruise departure from PortMiami in almost 16 months with the launch of Carnival Horizon. This resumption is expected to boost the local economy significantly, contributing over $9 billion in direct economic activity and supporting approximately 159,000 jobs statewide. The cruise industry in Florida generates about $7 billion and 40,000 jobs annually in Miami-Dade alone. The return signifies a crucial step in reviving the cruise sector and aiding thousands of workers affected by earlier suspensions.

Princess Cruises has announced its partial summer 2021 Alaska season, featuring immersive experiences through its award-winning 'North to Alaska' program. From July 25 to September 26, guests aboard the Majestic Princess will enjoy local seafood, cultural activities, and unique excursions. Highlights include special Alaska-themed dinners, fishing experiences, and local personalities sharing their stories. The cruises prioritize health and safety, requiring proof of COVID-19 vaccination for guests. Prices start at $799 per person, with various adventure excursions available in Ketchikan, Juneau, and Skagway.

Carnival Corporation reported a net loss of $(2.1) billion for Q2 2021, with adjusted losses at $(2.0) billion. The company ended the quarter with $9.3 billion in cash, believing it sufficient for a full operational return. Customer deposits increased to $2.5 billion, and booking volumes rose 45% compared to Q1 2021. 42 ships, over 50% of capacity, are set to resume operations by November 30, 2021. Aiming for sustainability, Carnival announced 2030 goals and 2050 aspirations. The company also reduced future interest expenses by $120 million annually through refinancing.

Carnival Cruise Line announced plans to expand its fleet by adding two new ships by 2023. The company will take delivery of an Excel-class ship originally assigned to AIDA Cruises and acquire Costa Magica, undergoing a Carnival-branded conversion by mid-2022. This growth is in addition to the upcoming launches of Mardi Gras on July 31 and Carnival Celebration in late 2022, bringing the total fleet to 27 ships by year-end 2023. These new ships will enhance guest experience and improve environmental efficiencies.