Carnival to raise $ 1 billion on the market

Carnival Corp announced on Monday a further round of fundraising with plans to issue $ 1 billion in shares.

The company will issue 45.4 million new shares at a price of $ 25.10 each, the company explained in a statement. The offer is expected to close on February 24. The company said the proceeds from the offering will be used for general purposes.

Goldman Sachs acts as the sole bookrunner and underwriter of the public offering.

The company has primarily looked to debt offers to support it during the bad situation that affect the entire world which most recently issued $ 3.5 billion of new debt earlier this month.

In January, Carnival extended the cancellation of departures from the United States until the end of April, also canceling departures from Australia and Europe.

However, Carnival’s shares have risen 50% over the past three months as investors look to the industry to recover.

Carnival posted losses of $ 10.2 billion for 2020 last month, in one year CEO Arnold Donald described it as “a true testament to our company’s resilience.”

FRANK GONZALEZ

I am an active crew member, and passionate person for the cruise industry, I work as Assistant Waiter for Royal Caribbean, and started this project while stucked at home during the pandemic. Thank you for your support.

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