Carnival Floating $1 Billion in New Stock

It's fundraising time for struggling cruise ship operator Carnival (NYSE: CCL) (NYSE: CUK). The company announced Monday that it's floating $1 billion worth of its common stock in a public offering.

In both its press release on the flotation and in the regulatory filing underpinning it, the company was short on detail. It wrote without elaboration that the proceeds of the issue would be utilized "for general corporate purposes."

The sole bookrunner and underwriter of the issue is Goldman Sachs.

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Source Fool.com