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Carnival Corporation needs $6 billion to recover from coronavirus

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Christian Fernsby ▼ | April 1, 2020
Carnival Corporation has sought to raise as much as $6 billion in new liquidity as the company battles the collapse in global travel following the coronavirus pandemic.
Carnival Corporation
Sea   Carnival Corporation
The operator of P&O Cruises, Cunard, Princess Cruises and Holland America, as well as the eponymous line, said it would launch a share offering to raise $3 billion and issue $1.75 billion in senior convertible notes.

Topics: Carnival Corporation coronavirus

Carnival has also commenced a public offering of $1.25 billion of shares of common stock, while underwriters are also being given an option to purchase up to $187.5 million of additional shares.

Shares in Carnival Corporation have fallen by around 75 per cent since mid-February, and are currently trading at US$13 each.

The corporation said it would use the net proceeds from the offering for “general corporate purposes”.