Why Carnival Stock Was Underwater Today

·2 min read
Why Carnival Stock Was Underwater Today

Investors weren't overjoyed about a fresh debt offering announced by Carnival, and a bearish new note from an analyst didn't help, either. After market hours on Wednesday, Carnival announced that it is floating a private offering of $1 billion worth of senior unsecured notes. Carnival says it plans to use the net proceeds of the issue to make scheduled principal payments on debt during fiscal 2023 and for general corporate purposes.

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