Carnival remains wrapped around par with earnings; Aspen Dental finalized, frees to trade

By Sara Rosenberg

New York, Dec. 21 – Carnival Corp.’s term loan B held steady in the secondary market on Thursday after the company came out with fourth quarter and full-year results that outperformed prior expectations.

Carnival’s term loan B was quoted at 99 7/8 bid, par 5/8 offered on Thursday, in line with Wednesday’s levels, following the release of positive fourth quarter and full-year numbers, according to a market source.

For the quarter, the company reported a net loss of $48 million, or a loss of $0.04 per diluted share, and adjusted net loss of $90 million, or a loss of $0.07 per diluted share, which was above the better end of the September guidance range. In the fourth quarter of 2022, the company reported a net loss of $1.598 billion, or a loss of $1.27 per diluted share, and adjusted net loss of $1.068 billion, or a loss of $0.85 per diluted share.

In more happenings, Aspen Dental finalized the spread on its term loan at the low end of talk and made a number of revisions to documentation, and then the debt broke for trading during the session.

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