Why Carnival Stock Was Underwater Today
The mood wasn't festive around Carnival (NYSE: CCL)(NYSE: CUK) stock on Thursday. The company, which struggled mightily during the worst period of the pandemic, saw its share price fall by almost 2%. Investors weren't overjoyed about a fresh debt offering announced by Carnival, and a bearish new note from an analyst didn't help, either.
After market hours on Wednesday, Carnival announced that it is floating a private offering of $1 billion worth of senior unsecured notes. These notes bear an annual interest rate of 10.5%. They mature on June 1, 2030, although they will be callable starting on the same date in 2025. The interest is payable semiannually on June 1 and Dec. 1.
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Source Fool.com
