Cathay Pacific raises USD650 million with bond issue
Hong Kong flag carrier has raised about US$650 million in much needed funds by selling US dollar bonds. It is the fits time it has sold the bonds for nearly three decades.
Funds raised will go toward working capital to see it through the pandemic as well as for general corporate purposes. The carrier already received a HK$39 billion (US$5 billion) government bailout.
Nearly 90% of the bonds will go to Asia-based investors, 10% to European accounts and 2% to offshore US investors.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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