-- Cathay announces its first Hong Kong dollar public bond totalling HK$2.08 billion
Cathay announces the successful pricing of a three-year fixed-rate Hong Kong dollar bond totalling HK$2.08 billion at 3.78%, marking Cathay’s first fundraising in the Hong Kong dollar public bond market.
This will also represent the largest Hong Kong dollar public bond issuance by a Hong Kong-based non-public sector company. The issuance attracted strong demand from a broad range of professional investors, including asset managers, banks and private banks.
Cathay Chief Financial Officer Rebecca Sharpe said: “Announcing our first ever Hong Kong dollar public bond is a reflection of our continued commitment to our home city, Hong Kong. By participating in and supporting the development of its financial markets, we’re playing a part in reinforcing Hong Kong’s position as a leading international financial centre.
“Looking ahead, we have committed well over HK$100 billion in investments into our fleet, cabins, lounges and digital innovation. This investment is all about realising our vision of becoming our customers’ most loved service brand and strengthening Hong Kong’s role as an international aviation hub.”
Every year, Cathay raises funds as part of its usual financing activities. In doing so, it considers a range of factors including its overall funding needs, the prevailing economic environment, funding source diversification and pricing. Cathay believes this is a good opportunity to raise funds in the Hong Kong dollar public bond market while further diversifying its funding sources.
Cathay intends to use the proceeds from the bond for working capital and general corporate purposes. The bond issuance is an issuance under Cathay’s US$2.5 billion Medium Term Note Programme. An application has been made to The Stock Exchange of Hong Kong Limited for the listing of, and permission to deal in, the bonds.
For more information, please visit www.cathaypacific.com.
Release ID: 89189876
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