The Saudi sovereign investment fund has 8.2% stake in Carnival Corp.
The cruise line now has Saudi Public Investment Fund as its third largest stakeholder. The investment fund's stake in the company is valued at nearly $370 million.
The fund did not own any Carnival share as of its fourth-quarter SEC filing.
Recently, Carnival increased its dollar-bond offering to $4 billion from $3 billion, while reducing its interest rate for the bonds to about 12% from 12.5%. This corresponds to the company’s decision to drop a euro-denominated tranche (according to Bloomberg citing sources familiar with the matter).