Cruise operator Carnival pays high price to get credit investors on board

spike

(Reuters) – Carnival Corp (CCL.N), the world’s largest cruise operator, said it has 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.

A person stretches at a park overlooking the Pacific Ocean and Carnival Panorama cruise ship as authorities encourage social distancing to prevent the spread of coronavirus disease (COVID-19) in Long Beach, California Sunday, March 29, 2020. REUTERS/Patrick T. Fallon

Despite having its cruise ships idled to comply with coronavirus travel restrictions, the company was able to attract enough investors that

Read More

Cruise operator Carnival pays high price to get credit investors on board: sources

spike

(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.

A person stretches at a park overlooking the Pacific Ocean and Carnival Panorama cruise ship as authorities encourage social distancing to prevent the spread of coronavirus disease (COVID-19) in Long Beach, California Sunday, March 29, 2020. REUTERS/Patrick T. Fallon

Despite having its cruise ships idled to comply with travel restrictions to combat the virus, Carnival was able

Read More

Almost all bets are off: casino capitals Macau, Las Vegas slammed by virus

spike

HONG KONG (Reuters) – The vast, glitzy gaming halls of Macau are open, but thousands of baccarat tables are empty. The world’s biggest hub has barred entry to most travellers and hotels are being used to isolate new arrivals in case they have been infected by coronavirus.

FILE PHOTO: A man walks near casinos, past shops with neon lights on, following an outbreak of the novel coronavirus disease (COVID-19), in Macau, China March 24, 2020. Picture taken March 24, 2020. REUTERS/Choi Chi Chio

In Las Vegas, the casinos have been forced to close in order to prevent the spread of

Read More

Swiss manufacturing PMI sinks to lowest level since 2009 on coronavirus fears

spike

ZURICH (Reuters) – From expensive watches to chocolates and cement, Swiss industry is being battered by the coronavirus epidemic, data showed on Wednesday, with the country’s PMI survey sinking to its lowest level in more than a decade.

FILE PHOTO: An employee prepares chocolate Easter bunnies wearing protective masks at Baeckerei Bohnenblust bakery in Bern, Switzerland March 25, 2020. REUTERS/Arnd Wiegmann/File Photo

The Swiss Purchasing Managers’ Index for March fell to 43.7 points, its lowest since July 2009, and is likely to drop further, the authors said. [S8N2B2006]

A measure of below 50 points indicates a shrinking manufacturing sector, which

Read More