Carnival Corporation Increases Convertible Note Offering

Apr 20, 2001, 01:00 ET from Carnival Corporation

    MIAMI, April 20 /PRNewswire Interactive News Release/ -- Carnival
 Corporation (NYSE:   CCL) announced that it has increased the size of its
 offering of 2 percent convertible senior notes due 2021 from $400 million in
 aggregate principal amount to $500 million in aggregate principal amount.  The
 convertible notes have a yield to maturity of 2 percent and are convertible
 into Carnival common stock at a conversion price of $39.14 per share,
 representing a 40 percent premium over the common stock closing price on April
 19, 2001.  The placement agent's over-allotment option remains $100 million in
 aggregate principal amount.
     The securities offered will not be registered under the Securities Act of
 1933 and may not be offered or sold in the United States absent registration
 or pursuant to an applicable exemption from the registration requirements of
 the Securities Act.
 
     NOTE: Statements in this press release relating to matters that are not
 historical facts are forward-looking statements.  All forward-looking
 statements, including those which may impact the forecasting of Carnival
 Corporation's net revenue yields, involve known and unknown risks,
 uncertainties and other factors, which may cause the actual results,
 performances or achievements of Carnival Corporation to be materially
 different from any future results, performances or achievements expressed or
 implied by such forward-looking statements.  Such factors include general
 economic and business conditions; increases in cruise industry capacity and
 competition; the ability of the company to implement its shipbuilding program
 and to continue to expand its business outside the North American market;
 incidents involving cruise ships; impact of pending or threatened litigation;
 changes in tax and other laws and regulations affecting Carnival and other
 factors which are described in further detail in Carnival's filings with the
 Securities and Exchange Commission.
 
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SOURCE Carnival Corporation
    MIAMI, April 20 /PRNewswire Interactive News Release/ -- Carnival
 Corporation (NYSE:   CCL) announced that it has increased the size of its
 offering of 2 percent convertible senior notes due 2021 from $400 million in
 aggregate principal amount to $500 million in aggregate principal amount.  The
 convertible notes have a yield to maturity of 2 percent and are convertible
 into Carnival common stock at a conversion price of $39.14 per share,
 representing a 40 percent premium over the common stock closing price on April
 19, 2001.  The placement agent's over-allotment option remains $100 million in
 aggregate principal amount.
     The securities offered will not be registered under the Securities Act of
 1933 and may not be offered or sold in the United States absent registration
 or pursuant to an applicable exemption from the registration requirements of
 the Securities Act.
 
     NOTE: Statements in this press release relating to matters that are not
 historical facts are forward-looking statements.  All forward-looking
 statements, including those which may impact the forecasting of Carnival
 Corporation's net revenue yields, involve known and unknown risks,
 uncertainties and other factors, which may cause the actual results,
 performances or achievements of Carnival Corporation to be materially
 different from any future results, performances or achievements expressed or
 implied by such forward-looking statements.  Such factors include general
 economic and business conditions; increases in cruise industry capacity and
 competition; the ability of the company to implement its shipbuilding program
 and to continue to expand its business outside the North American market;
 incidents involving cruise ships; impact of pending or threatened litigation;
 changes in tax and other laws and regulations affecting Carnival and other
 factors which are described in further detail in Carnival's filings with the
 Securities and Exchange Commission.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X06633421
 
 SOURCE  Carnival Corporation