| FOR IMMEDIATE RELEASE | 17 October 2011 |
Cathay Pacific Airways Limited ("Cathay Pacific") announces that its wholly-owned subsidiary Cathay Pacific MTN Financing Limited has priced HK$658 million of notes bearing a coupon of 3.9% due in 2018 (the "Notes") under its US$2 billion Medium Term Note Programme ("the Programme"). The Notes, like the Programme, are unrated.
A coupon of 3.9% will be payable quarterly in arrears. The Notes will be redeemed at par on 17th October 2018. The proceeds from the Notes will be used for general corporate purposes. The issue was managed by HSBC and marked the inaugural issue from the company's newly established medium term note programme that was listed in August 2011.
Cathay Pacific Chief Operating Officer Ivan Chu said: "We are pleased to be under way with our MTN programme. Our finances are in very good shape and this HK$658 million issue shows that Cathay Pacific can raise money at very competitive low fixed interest rates from a new source, the debt capital markets, which increases financial flexibility."
| © Copyright 1996-2023 irasia.com Ltd. All rights reserved. |
|
DISCLAIMER: irasia.com Ltd makes no guarantee as to the accuracy or completeness of any
information provided on this website. Under no circumstances shall irasia.com Ltd be liable
for damages resulting from the use of the information provided on this website.
TRADEMARK & COPYRIGHT: All intellectual property rights subsisting in the contents of this website belong to irasia.com Ltd or have been lawfully licensed to irasia.com Ltd for use on this website. All rights under applicable laws are hereby reserved. Reproduction of this website in whole or in part without the express written permission of irasia.com Ltd is strictly prohibited. TERMS OF USE: Please read the Terms of Use governing the use of our website. |