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THE MARINE LOG FEATURES CALENDAR FOR 2003
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April 23 2003
Carnival to raise $500 million
Carnival Corporation (NYSE: CCL) is to raise $500 million through an offering of convertible securities. The convertible securities are to be guaranteed by Carnival plc (LSE: CCL, NYSE: CUK) (formerly P&O Princess Cruises plc, which was combined with Carnival Corporation under a dual listed company transaction completed April 17, 2003). Carnival Corporation says it may raise up to an additional $75 million upon exercise of an over-allotment option in connection with the offering. Carnival Corporation expects to use the proceeds of the offering for general corporate purposes, including financing its shipbuilding program and other capital commitments.
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