Cruise operator Carnival pays high price to get credit investors on board: sources [Reuters]
Yum! Brands, Inc. (YUM)
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Source: Reuters
Cruise operator Carnival pays high price to get credit investors on board: sources (Reuters) - Carnival Corp ( CCL.N ), the world’s largest cruise operator, raised $6.25 billion by issuing new debt and equity on Wednesday, borrowing at a high cost to weather the economic storm of the coronavirus pandemic, people familiar with the matter said. Despite having its cruise ships idled to comply with travel restrictions to combat the virus, Carnival was able to attract enough investors that its capital raising was oversubscribed several times over, albeit at a steep price, the sources said. The company priced $4 billion in bonds maturing in 2023 — upsized from the $3 billion originally planned — with a yield at par value of 11.5%, one of sources said. By comparison, Carnival paid a 1% yield in October, when it borrowed 600 million euros ($657.7 million) in the European debt market. Moreover, Carnival had to use its ships as collateral to attract bond investors on Wednesday. The company al
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YUM
News
- Cramer says he likes Cracker Barrel, but investors should wait for more information before buying [CNBC]CNBC
- Yum! Brands, Inc. (NYSE: YUM) had its price target lowered by analysts at JPMorgan Chase & Co. from $134.00 to $132.00. They now have a "neutral" rating on the stock.MarketBeat
- Fast-food restaurant sales slump as more people eat at home [FOX Business Network]FOX Business Network
- Yum! Brands, Inc. (NYSE: YUM) had its price target raised by analysts at Barclays PLC from $144.00 to $148.00. They now have an "overweight" rating on the stock.MarketBeat
- Yum! Brands, Inc. (NYSE: YUM) had its price target raised by analysts at BMO Capital Markets from $133.00 to $135.00. They now have a "market perform" rating on the stock.MarketBeat
YUM
Earnings
- 5/1/24 - Miss
YUM
Sec Filings
- 5/2/24 - Form 144
- 5/1/24 - Form 8-K
- 4/26/24 - Form 8-K
- YUM's page on the SEC website