New Issue: Carnival sells $500 million 1.875% five-year notes to yield Treasuries plus 130 bps

By Andrea Heisinger

New York, Nov. 29 - Carnival Corp. was in the market Thursday with a $500 million sale of 1.875% five-year senior notes priced at Treasuries plus 130 basis points, a market source said.

The notes (A3/BBB+/) were sold at 99.79 to yield 1.919%.

There is a make-whole call at Treasuries plus 20 bps and a change-of-control put at 101%.

Goldman Sachs & Co., J.P. Morgan Securities LLC, RBS Securities Inc. and UBS Securities LLC were the bookrunners.

Proceeds will be used for general corporate purposes, including repaying portions of debt facilities maturing in 2013.

The notes are guaranteed by Carnival plc.

The cruise company is based in London.

Issuer:	Carnival Corp.
Guarantor:	Carnival plc
Issue:	Senior notes
Amount:	$500 million
Maturity:	Dec. 15, 2017
Bookrunners:	Goldman Sachs & Co., J.P. Morgan Securities LLC, RBS Securities Inc., UBS Securities LLC
Co-managers:	Banca IMI SpA, BNP Paribas Securities Corp., Lloyds Securities Inc., Mizuho Securities USA Inc., UniCredit Capital Markets LLC, HSBC Securities (USA) Inc., RBC Capital Markets LLC, SG Americas Securities LLC, U.S. Bancorp Investments Inc.
Coupon:	1.875%
Price:	99.79
Yield:	1.919%
Spread:	Treasuries plus 130 bps
Call:	Make-whole at Treasuries plus 20 bps
Change-of-control put:	101%
Trade date:	Nov. 29
Settlement date:	Dec. 6
Ratings:	Moody's: A3
	Standard & Poor's: BBB+

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