Carnival Corporation & plc Announce Commencement of Consent Solicitation
Relating to Carnival plc's 7.30% Notes Due 2007 and 7.875% Debentures Due 2027
MIAMI, June 16 /PRNewswire/ --
Carnival Corporation & plc (NYSE: CCL; LSE) (NYSE: CUK) announced today that
it has commenced the previously announced consent solicitation of holders of
Carnival plc's $284,750,000 7.30% Notes due 2007 and $192,000,000 7.875%
Debentures due 2027 to proposed amendments to the terms of the notes and
debentures. The proposed amendments modify some of the covenants and events
of default in the indenture governing the securities to reflect the
implementation of a dual listed company, or "DLC," structure between Carnival
Corporation and Carnival plc (formerly known as P&O Princess Cruises plc) on
April 17, 2003.
In return for the consents to the proposed amendments, Carnival
Corporation is offering a guarantee of Carnival plc's obligations under the
Indenture and the securities on an unsubordinated, unsecured basis. The
guarantee will be issued if the required consents -- not less than a majority
of the principal amount of each series of securities -- are received and if
some other conditions are met. Please refer to the prospectus relating to the
consent solicitation for further information.
The consent solicitation will expire at 5:00 p.m., New York City time, on
Tuesday, July 15, 2003, unless extended or terminated. Only security holders
as of 5:00 p.m. the record date, Wednesday, June 11, 2003, are eligible to
execute a consent to the proposed amendments.
The detailed terms and conditions of the consent solicitation are
contained in the prospectus dated June 16, 2003. The solicitation agents for
the consent solicitation are Merrill Lynch & Co. and UBS Securities LLC.
Questions concerning the procedures for consenting or requests for the
prospectus or other solicitation material may be directed to the information
agent D.F. King & Co., at 800-487-4870 (toll free) or 1-212-269-5550 (banks
and brokerage firms) located at 48 Wall Street, 22nd Floor, New York,
New York, 10005.
A copy of the prospectus will be available shortly in the UK for
inspection at the Document Viewing Facility of the Financial Services
Authority at 25 The North Colonnade, London E14 5HS, telephone: 44 (0) 20
Carnival Corporation & plc is the largest cruise vacation group in the
world, with a portfolio of 13 distinct brands comprised of the leading cruise
operators in both North America and Europe. Carnival Cruise Lines, Princess
Cruises, Holland America Line, Costa Cruises, P&O Cruises, Cunard Line,
Windstar Cruises, Seabourn Cruise Line, Ocean Village, Swan Hellenic, AIDA,
A'ROSA, and P&O Cruises Australia are all included in this group.
Together, these brands operate 67 ships totaling more than 103,000 lower
berths with 16 new ships scheduled for delivery between now and mid-2006.
Carnival Corporation & plc also operates three riverboats on Europe's Danube
River and the leading tour companies in Alaska and the Canadian Yukon, Holland
America Tours and Princess Tours. Traded on both the New York and London
Stock Exchanges, Carnival Corporation & plc is the only group in the world to
be included in both the S&P 500 and the FTSE 100 indices.
SOURCE Carnival Corporation & plc
/CONTACT: Investors, US or UK, Beth Roberts, +1-305-406-4832, or
44-0-79-5643-6104, or UK, Bronwen Griffiths, 44-0-23-8052-5231, both of
Carnival Corporation & plc/
/Web site: http://www.carnivalcorp.com /