Why Shares of Carnival Popped 14.5% Thursday

Shares of Carnival (NYSE: CCL) continued their rally on Thursday, with shares up as much as 14.5% in early trading. At 10:50 a.m. EDT today, shares were up 10.4%, and are up 57.8% so far this week.

Carnival has officially closed on the largest tranche of funds it raised this week. Management said that its $4 billion of 11.5% first-priority senior secured notes due 2023 have closed, and underwriters exercised their option to buy $62.5 million of additional convertible notes, which were originally sold earlier this week.

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Source Fool.com