a $1 billion stock sale—its second capital raise in recent months—in order to to pay down debt, as the cruise industry continues to feel the impact of the Covid-19 pandemic, surging inflation and higher fuel prices.Lynne Sladky/Associated PressShares of major cruise operator Carnival fell nearly 12% on Thursday after the company said it would sell $1 billion worth of stock—just over 102 million shares—at $9.95 per share, with the option to buy an additional 15.3 million shares.
Carnival ended the second quarter with roughly $35 billion in debt—more than its peers—and $7.5 billion in cash, but analysts last month warned that could “” if customer demand takes a hit in the form of fewer bookings and more canceled deposits.
The whole mother ship is sinking! Brace yourself because it’s all going down! BidenWorstPresidentEver
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TheBlock__ - 🏆 464. / 53 Read more »