StockMarketWire.com - Cruise company Carnival priced a senior secured term loan facility, consisting of $1.86bn and €800m tranches, with a maturity of five years.

The US dollar tranche would be issued at a price equal to 96% of its face value and bear annual interest equal to adjusted LIBOR (with a 1% floor) plus 7.5%.

The euro tranche would be issued at a price equal to 96% of its face value and bear annual interest equal to EURIBOR (with a 0% floor) plus 7.5%.

The term loan facility was expected to close on June 30.

Carnival said it intended to use the net proceeds for general corporate purposes, including the repayment of near-term debt maturities. Story provided by StockMarketWire.com