carnival corp CCL Shares traded lower in Tuesday’s after-hours session after the company announced an offering of senior convertible notes.

What you should know: Carnival announced a private offering of $1 billion in convertible debentures due 2027. The company plans to take advantage of the offering as part of its 2024 refinancing plans.

Carnival plans to give the original buyers an option to purchase up to $150 million in convertible notes. The Company expects to use the net proceeds of the Offering to service debt and for general corporate purposes.

Carnival is one of the world’s largest leisure travel companies with a portfolio of nine cruise lines.

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CCL Price Promotion: Carnival has a 52-week high of $23.86 and a 52-week low of $6.11.

The stock fell 13.6% after the close of business to $9.64 at the time of publication Gasoline Pro.

Photo: Courtesy of Carnival.