Cathay Pacific announces inaugural notes issue
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.”