Carnival Cruises 2011 Annual Report Download - page 17

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NOTE 5 – Debt
Long-term debt and short-term borrowings consisted of the following (in millions):
November 30,
2011 (a) 2010 (a)
SECURED LONG-TERM DEBT
Fixed rate export credit facilities, bearing interest at 5.4% and 5.5%, collateral released
in 2011 ............................................................... $ - $ 328
Other ................................................................... 3 3
Total Secured Long-term Debt ......................................... 3 331
UNSECURED LONG-TERM DEBT
Export Credit Facilities
Fixed rate, bearing interest at 4.2% to 5.5%, due through 2020 (b) ................... 2,340 2,339
Euro fixed rate, bearing interest at 3.8% to 4.5%, due through 2025 (b) ............... 470 503
Floating rate, bearing interest at LIBOR plus 1.3% to 1.6% (1.6% to 2.0%), due through
2023 (c)(d) ............................................................ 872 688
Euro floating rate, bearing interest at EURIBOR plus 0.2% to 1.0% (1.7% to 2.8%), due
through 2026 (b)(e) ...................................................... 1,314 824
Bank Loans
Fixed rate, bearing interest at 2.7% to 4.4%, due through 2015 (b)(f)(g) .............. 850 851
Euro fixed rate, bearing interest at 3.9% to 4.7%, due through 2021 (b) ............... 350 406
Floating rate, bearing interest at LIBOR plus 0.7% to 0.9% (1.1% to 1.5%), due through
2016 (g)(h) ............................................................ 500 150
Euro floating rate, bearing interest at EURIBOR plus 0.6% (2.1%), due in 2014 (b)(i) . . . 135 262
Private Placement Notes
Fixed rate, bearing interest at 5.9% to 6.0%, due through 2016 ..................... 121 123
Euro fixed rate, bearing interest at 6.7% to 7.3%, due through 2018 (b) ............... 247 246
Publicly-Traded Notes
Fixed rate, bearing interest at 6.7% to 7.2%, due through 2028 ..................... 528 529
Euro fixed rate, bearing interest at 4.3%, due in 2013 ............................. 997 991
Sterling fixed rate, bearing interest at 5.6%, due in 2012 .......................... 314 322
Other .................................................................. 31 59
Total Unsecured Long-term Debt ....................................... 9,069 8,293
UNSECURED SHORT-TERM BORROWINGS
Commercial paper, with aggregate weighted-average interest rate of 0.3%, repaid in
December 2011 ......................................................... 162 696
Euro bank loans, with aggregate weighted-average interest rate of 1.8%, repaid in
December 2011 ......................................................... 119 44
Total Unsecured Short-term Borrowings ................................. 281 740
Total Unsecured Debt ................................................. 9,350 9,033
Total Debt .......................................................... 9,353 9,364
Less short-term borrowings ................................................. (281) (740)
Less current portion of long-term debt ......................................... (1,019) (613)
Total Long-term Debt ................................................ $8,053 $8,011
(See next page for footnotes.)
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