CCL offers another 1 Billion in common stock :(

[rkacruiser]

7 hours ago, iancal said:

Could be none of the above, could be nothing.  But imaginations tend to race in an industry environment like currently exists. 

 

If one believes in the industry, if one believes in an investment one has made in the industry, what one must do is to "hang tight".  Granted that the "seas" are more rough than they have been.  But, for those who have been long time investors, patience and confidence in those who operate the companies will find "smoother seas".  Why wouldn't they?  Do they want their stock options to become worthless?  

[BermudaBound2014]

47 minutes ago, rkacruiser said:

 

If one believes in the industry, if one believes in an investment one has made in the industry, what one must do is to "hang tight".  Granted that the "seas" are more rough than they have been.  But, for those who have been long time investors, patience and confidence in those who operate the companies will find "smoother seas".  Why wouldn't they?  Do they want their stock options to become worthless?  

Of course they want their stock options to have value but we’ve never been here. Not even close to this level of debt. They are borrowing money to make Payments. Perhaps smoother seas require wiping out the debt and starting over? Or just selling off parts of the whole? But I don’t see how restructuring can be avoided entirely. 

[iancal]

1 hour ago, rkacruiser said:

 

If one believes in the industry, if one believes in an investment one has made in the industry, what one must do is to "hang tight".  Granted that the "seas" are more rough than they have been.  But, for those who have been long time investors, patience and confidence in those who operate the companies will find "smoother seas".  Why wouldn't they?  Do they want their stock options to become worthless?  

The challenge with stock options is that they typically have a vesting date AND an expiry date.  And a strike price.   Or PPU grants tied to very  specific financial targets.

 

If the stock is under water at the option strike price/expiry date   they have zero value.

Edited August 2, 2022 by iancal

[HappyInVan]

Back on topic. Anyone know what happened to the latest $1b offer? CCL market price immediately fell below the offer price. Did the underwriters underwrite, or is CCL in deep deep trouble?

[BermudaBound2014]

6 hours ago, HappyInVan said:

Back on topic. Anyone know what happened to the latest $1b offer? CCL market price immediately fell below the offer price. Did the underwriters underwrite, or is CCL in deep deep trouble?

 

The offer closed with Goldman Sacs on July 25th as scheduled. 

 

https://www.carnivalcorp.com/news-releases/news-release-details/carnival-corporation-plc-announces-closing-1-billion-offering

 

 

 

 

[JesseLivermore]

so it would have been a good trade (hindsight 20/20) and i might for future cruises since I used OBC for Inet and arch supports 😉  Got some AK taxes refunded too for some reason..

[Gail & Marty sailing away]

On 7/28/2022 at 7:53 PM, rkacruiser said:

Personally, I think there is too much day trading going on that is influencing the prices for all of the cruise lines.  

 

 

I agree with you. 

[Gail & Marty sailing away]

My guess long term Bonds. 

[LocoLoco1]

I can’t resist: Whirlpool just bought Insinkerator for $3/Billion. BILLION. 

[smarks]

On 7/21/2022 at 12:27 AM, BermudaBound2014 said:

You nailed it- one big house of cards. 
 

gotta give them credit for still being able to raise money. 

Did you see the big bonuses they passed out during covid?  Maybe they are filling their pockets before they sink.

 

[BermudaBound2014]

2 minutes ago, smarks said:

Did you see the big bonuses they passed out during covid?  Maybe they are filling their pockets before they sink.

 

 

Did you see the amount of shares that moved hands w/ Arnold Donald just before he left last week? Or Joshua Weinstein? Take a look at these SEC filings. Click on the "W" to read the details.

 

https://www.carnivalcorp.com/financial-information/sec-filings/all

 

[BermudaBound2014]

Well, CCL just offered up another 1.25 Billion Senior notes and are contributing 12 Ships. They need this money to make debt payments. Borrowing to pay interest payments doesn't look good.

 

I'm unclear if this means they will transferring ownership of the 12 ships (still operating under CCL, but protecting against BK) or if they are just putting up as collateral like RCL did with Celebrity. No word on which ships are being used in this deal.

 

 

https://finance.yahoo.com/news/carnival-corporation-plc-announces-offering-114400398.html

 

Times are tough and getting tougher. RCL and NCLH both file their quarterlies in a few weeks. Buckle up again. 

 

 

 

Edited October 18, 2022 by BermudaBound2014

[Gail & Marty sailing away]

18 minutes ago, BermudaBound2014 said:

Well, CCL just offered up another 1.25 Billion Senior notes and are contributing 12 Ships. They need this money to make debt payments. Borrowing to pay interest payments doesn't look good.

 

I'm unclear if this means they will transferring ownership of the 12 ships (still operating under CCL, but protecting against BK) or if they are just putting up as collateral like RCL did with Celebrity. No word on which ships are being used in this deal.

 

 

https://finance.yahoo.com/news/carnival-corporation-plc-announces-offering-114400398.html

 

Times are tough and getting tougher. RCL and NCLH both file their quarterlies in a few weeks. Buckle up again. 

 

 

 

Please post if you find out. 

[carlmm]

33 minutes ago, BermudaBound2014 said:

Well, CCL just offered up another 1.25 Billion Senior notes and are contributing 12 Ships. They need this money to make debt payments. Borrowing to pay interest payments doesn't look good.

 

I'm unclear if this means they will transferring ownership of the 12 ships (still operating under CCL, but protecting against BK) or if they are just putting up as collateral like RCL did with Celebrity. No word on which ships are being used in this deal.

 

 

https://finance.yahoo.com/news/carnival-corporation-plc-announces-offering-114400398.html

 

Times are tough and getting tougher. RCL and NCLH both file their quarterlies in a few weeks. Buckle up again. 

 

 

 

Things develop much worse than I had expected. Yet, there is also the positive side of all operations, i.e. the cruisships we might like, will go on.

[BermudaBound2014]

2 hours ago, carlmm said:

Things develop much worse than I had expected. Yet, there is also the positive side of all operations, i.e. the cruisships we might like, will go on.

yes- cruising will go on, but I suspect it is likely going to look very different. 

[BermudaBound2014]

Interesting turn of events: 
 

cCL raised the offering to 2.05 Billion at a whopping 10.28%.

 

They had strong investor interest likely due to “contributing” 12 cruise ships to sweeten the deal. 

 

“In connection with the offering of the Senior Priority Notes, the Company and its subsidiaries will contribute 12 unencumbered vessels to the Issuer, with each of these vessels continuing to be operated under one of the Company's, Carnival plc's or one of their subsidiaries' brands.”

 

https://finance.yahoo.com/news/carnival-corporation-plc-announces-upsizing-230100788.html

 

[newtocruiseinblue]

30 minutes ago, BermudaBound2014 said:

Interesting turn of events: 
 

cCL raised the offering to 2.05 Billion at a whopping 10.28%.

 

They had strong investor interest likely due to “contributing” 12 cruise ships to sweeten the deal. 

 

“In connection with the offering of the Senior Priority Notes, the Company and its subsidiaries will contribute 12 unencumbered vessels to the Issuer, with each of these vessels continuing to be operated under one of the Company's, Carnival plc's or one of their subsidiaries' brands.”

 

https://finance.yahoo.com/news/carnival-corporation-plc-announces-upsizing-230100788.html

 

I noticed a mention of Carnival Bermuda under one article. Not sure if it means anything..."As part of the deal, the company and subsidiaries will contribute 12 unencumbered vessels to Carnival Bermuda which will continue to be operated under of the company's Carnival plc's or another unit's brands"

[BermudaBound2014]

Looks like a shell game to me but what do I know. 

[mcrcruiser]

A possible solution just keep adding more stock  to the bloat  . already added 2 billion new shares so why not 3 or 4 more billion shares ?

[JesseLivermore]

2 hours ago, mcrcruiser said:

A possible solution just keep adding more stock  to the bloat  . already added 2 billion new shares so why not 3 or 4 more billion shares ?

 

b/c I just bought a 100 @ $7.60 😉 Hopefully they keep the OBC going atleast

[Gail & Marty sailing away]

5 hours ago, newtocruiseinblue said:

I noticed a mention of Carnival Bermuda under one article. Not sure if it means anything..."As part of the deal, the company and subsidiaries will contribute 12 unencumbered vessels to Carnival Bermuda which will continue to be operated under of the company's Carnival plc's or another unit's brands"

Carnival  Bermuda?????? 

[Mary229]

Here is the CCL press release 

 

https://www.carnivalcorp.com/news-releases/news-release-details/carnival-corporation-plc-announces-upsizing-and-pricing-203

[mcrcruiser]

3 hours ago, Mary229 said:

Here is the CCL press release 

 

https://www.carnivalcorp.com/news-releases/news-release-details/carnival-corporation-plc-announces-upsizing-and-pricing-203

anyof the  financing   instruments carry high  interest charges  .This gives  CCL the cash to operate but at a high debt service cost  .Now compare  the issuing  of   new billions of shares that pay no dividends  ,now this is free money & no strings attached .That is the difference between  issuing new  shares any other debt  instruments   .Today Wednesday ,Oct 19  ,2022 CCL stock futures have turned red 

[LocoLoco1]

Who would actually WANT CCL’s mid-size ships?? Newer Mega-ships are the $money-making$ trend. Boutique Luxury liners also make a profit. Methinks bloated numbers of plain-jane vessels out there now that they can’t fill without cheap fares is brutal for the whole industry’s future. Nobody wants to say ‘Uncle’ and downsize first. What a mess..

[mcrcruiser]

On 8/8/2022 at 7:44 AM, BermudaBound2014 said:

 

Did you see the amount of shares that moved hands w/ Arnold Donald just before he left last week? Or Joshua Weinstein? Take a look at these SEC filings. Click on the "W" to read the details.

 

https://www.carnivalcorp.com/financial-information/sec-filings/all

 

This type of lining ones pockets is nothing new with the top of the    pyramid