: Carnival bonds climb after cruise operator says it will save $120 million a year by retiring $1.2 billion in high-cost debt


Carnival Corp.’s bonds were up by about a point early Monday, after the cruise operator said it would retire $1.2 billion of its highest-cost debt and issue a new $1 billion secured first-lien term loan.

Carnival CCL UK:CCL Chief Financial Officer David Bernstein said the company has confidence in its business and cash-flow generation as it enjoys a strong recovery in travel from customers eager to spread their wings after the restraints created by the COVID pandemic during the past three years.


This article was originally published by Marketwatch.com. Read the original article here.

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