Carnival Files 8K - Direct Or Off-Balance Sheet Financial Obligation
May 20 2016 - 4:36PM
Dow Jones News
Carnival Corp. (CCL) filed a Form 8K - Direct or off-Balance
Sheet Financial Obligation - with the U.S Securities and Exchange
Commission on May 18, 2016.
On May 18, 2016, the termination date in respect of all of the
facilities (other than as detailed below) provided under our $1.7
billion, 500 million and 150 million multi-currency revolving
credit agreement, as amended and restated on June 16, 2014, by and
among Carnival Corporation, Carnival plc, and certain of Carnival
Corporation and Carnival plc subsidiaries, Bank of America Merrill
Lynch International Limited, as Facilities Agent, Bank of America
Merrill Lynch International Limited, Barclays Bank PLC, BNP
Paribas, Citigroup Global Markets Limited, Goldman Sachs Bank USA,
Intesa Sanpaolo S.p.A., J.P. Morgan Limited, Lloyds Bank plc,
Mizuho Bank, Ltd and The Royal Bank of Scotland plc, as mandated
lead arrangers, and each of the other banks or other institutions
party thereto (the "Facility Agreement"), was extended from June
16, 2020 to June 16, 2021 pursuant to the extension request
procedures set forth in the Facility Agreement. One lender has
commitments in Tranches A, B and C (including under the swingline
facilities) equivalent to approximately $100 million which will
terminate automatically on June 16, 2020.
A description of the Facility Agreement was disclosed in Items
2.03 of the Form 8-Ks filed by Carnival Corporation and Carnival
plc on June 17, 2014 and April 27, 2015 and are hereby incorporated
by reference into this Item 2.03 except with reference to the
expiration date of the Facility Agreement. The Facility Agreement
was filed with the Securities and Exchange Commission on October 3,
2014 as Exhibit 10.1 to Carnival Corporation and Carnival plc's
Quarterly Report on Form 10-Q for the quarterly period ended August
31, 2014.
In addition, on May 18, 2016, Carnival Corporation, Carnival
plc, and certain of Carnival Corporation and Carnival plc
subsidiaries entered into an amendment to increase the total
commitments under the Facility Agreement and add three new lenders
(the "Amendment"). The new lenders which acceded to the Facility
Agreement under the Amendment are KfW IPEX-Bank GmbH, Bayerische
Landesbank, New York Branch and DZ BANK AG, Deutsche
Zentral-Genossenschaftsbank, Frankfurt am Main, New York Branch
(each a "New Lender"). Each New Lender now holds commitments under
Tranche A and Tranche B. As a result of the Amendment, the Tranche
A commitments were increased by $152,628,181.20 and the Tranche B
commitments were increased by 18,952,247.34, for a combined
increase to the total commitments in an amount equivalent to
approximately $180 million. The termination date of each New
Lender's commitments is June 16, 2021.
Some of the lenders under the Facility Agreement, as amended,
and their affiliates have various relationships with Carnival
Corporation, Carnival plc and certain of their subsidiaries
involving the provision of financial services, including cash
management, investment banking and trust services. In addition,
Carnival Corporation and Carnival plc have entered into other loan
arrangements as well as fuel, interest rate swap and foreign
currency exchange derivative arrangements with certain of the
lenders and their affiliates.
The full text of this SEC filing can be retrieved at:
http://www.sec.gov/Archives/edgar/data/815097/000119312516597597/d148811d8k.htm
Any exhibits and associated documents for this SEC filing can be
retrieved at:
http://www.sec.gov/Archives/edgar/data/1125259/000119312516597597/0001193125-16-597597-index.htm
Public companies must file a Form 8-K, or current report, with
the SEC generally within four days of any event that could
materially affect a company's financial position or the value of
its shares.
(END) Dow Jones Newswires
May 20, 2016 16:21 ET (20:21 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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