Carnival rescue bond eschews euros as dollars goes large

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Carnival rescue bond eschews euros as dollars goes large

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Koningsdam Aerial Venice | Michel Verdure/©2016 Michel Verdure - www.verd

The high yield bond leg of the rescue package for cruise company Carnival is flying off the shelves in the dollar market, leading the company to increase it from $3bn to $4bn, cut pricing, and drop the planned euro tranche entirely — but the equity capital raising is proving tougher and has been shrunk by $500m.

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