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Carnival (CCL; B3 Pos, BB- S) {CCL US Equity} early call on refi

CONSUMER CYCLICALS
  • Carnival has called its entire €500m 7.625% 26's at €101.906 (it was trading north of €102 in recent sessions)
  • Will issue in a private offering of new €500m 2030s to refi it - call at 12pm UKT.
  • TUI Cruises (B3 Pos, B, B+ Pos) priced its €350m 5NC2 (29's) at 6.25% last week (Z+335).

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