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Unsecured Debt - Additional Information (Detail)
In Millions, unless otherwise specified
12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended
Nov. 30, 2013
Nov. 30, 2013
Export Credit Facilities Floating Rate
USD ($)
Nov. 30, 2012
Export Credit Facilities Floating Rate
USD ($)
Nov. 30, 2013
Export Credit Facility Euro Floating Rate
USD ($)
Nov. 30, 2012
Export Credit Facility Euro Floating Rate
USD ($)
Nov. 30, 2013
Bank Loans Floating Rate
USD ($)
Nov. 30, 2012
Bank Loans Floating Rate
USD ($)
Nov. 30, 2013
Revolving Credit Facility
USD ($)
Nov. 30, 2013
Revolving Credit Facility
Main Credit Facility
USD ($)
Y
Nov. 30, 2013
Revolving Credit Facility
Main Credit Facility
U.S Dollar Denominated Debt
USD ($)
Nov. 30, 2013
Revolving Credit Facility
Main Credit Facility
Euro Denominated
EUR (€)
Nov. 30, 2013
Revolving Credit Facility
Main Credit Facility
Sterling Denominated Debt
GBP (£)
Nov. 30, 2013
Revolving Credit Facility
Main Credit Facility
Utilization of One Third of Available Line of Credit Facility
Nov. 30, 2013
Revolving Credit Facility
Main Credit Facility
Utilization of Two Third of Available Line of Credit Facility
Nov. 30, 2013
Revolving Credit Facility
Backup Liquidity
USD ($)
Nov. 30, 2013
Unsecured Publicly traded Notes [Member]
Oct. 09, 2013
Unsecured Publicly traded Notes [Member]
USD ($)
Feb. 28, 2013
Unsecured Publicly traded Notes [Member]
USD ($)
Dec. 31, 2012
Unsecured Publicly traded Notes [Member]
USD ($)
Nov. 30, 2013
Unsecured Publicly traded Notes [Member]
U.S Dollar Denominated Debt
Nov. 30, 2013
Unsecured Publicly Traded Note Due February 2016 [Member]
Debt Instrument [Line Items]                                          
Issuance of unsecured publicly-traded notes                                 $ 700 $ 500 $ 500    
Debt instrument, interest rate                                 4.00% 1.20% 1.90%    
Debt Instrument Maturity Month Year   May 2025   March 2025   November 2018                   2017-12-31       October 2020 February 2016
Debt instrument maturity year   2025 2025 2026 2026 2018 2018               2015            
Line of credit maturity period 12 years                                        
Debt instrument, maturity years                 5                        
Long-term debt   1,196 [1],[2],[3] 1,303 [1],[2],[3] 1,742 [1],[4],[5] 1,516 [1],[4],[5] 850 [1],[4],[6] 700 [1],[4],[6] 300 2,500 1,600 450 150                  
Interest rate at facility debt instrument interest rate terms LIBOR/EURIBOR plus a margin of 65 bps                 LIBOR/EURIBOR plus a margin of 70 basis points (“bps”)                        
Debt instrument, basis spread on variable rate                 0.70%                        
Commitment fee on undrawn facility                 35.00%                        
Utilization fee on the total amount outstanding                         0.15% 0.30%              
Line of credit facility available amount               $ 2,800             $ 82            
[1] The debt table does not include the impact of our foreign currency and interest rate swaps. At November 30, 2013, 69% and 31% (58% and 42% at November 30, 2012) of our debt was U.S. dollar and euro-denominated, respectively, including the effect of foreign currency swaps. Substantially all of our fixed rate debt can only be called or prepaid by incurring additional costs. In addition, substantially all of our debt agreements, including our main revolving credit facility, contain one or more financial covenants that require us, among other things, to maintain minimum debt service coverage and minimum shareholders’ equity and to limit our debt to capital and debt to equity ratios and the amounts of our secured assets and secured and other indebtedness. Generally, if an event of default under any debt agreement occurs, then pursuant to cross default acceleration clauses, substantially all of our outstanding debt and derivative contract payables (see Note 10) could become due, and all debt and derivative contracts could be terminated. At November 30, 2013, we believe we were in compliance with all of our debt covenants.
[2] In 2013, we borrowed $526 million under an export credit facility, the proceeds of which were used to pay for a portion of Royal Princess’ purchase price and is due in semi-annual installments through May 2025.
[3] In 2013, we issued $500 million of publicly-traded notes, which bear interest at 1.2% and are due in February 2016. The proceeds were used to repay a like amount of floating rate export credit facilities prior to their maturity dates through 2022.
[4] Includes $3.4 billion of debt whose interest rates, and in the case of our main revolver its commitment fees, would increase upon a downgrade in the long-term senior unsecured credit ratings of Carnival Corporation or Carnival plc.
[5] In 2013, we borrowed $311 million under a euro-denominated export credit facility, the proceeds of which were used to pay for a portion of AIDAstella’s purchase price and is due in semi-annual installments through March 2025.
[6] In 2013, we borrowed $150 million under a floating rate bank loan, which is due in November 2018. We used the net proceeds of this loan for general corporate purposes.