$CATHAY PAC AIR (00293.HK)$ It rose by over 14%, as of the time of writing, it increased by 14.43%, priced at 9.2 Hong Kong dollars, with a transaction amount of 0.359 billion Hong Kong dollars.

On the news front, cathay pac air announced that on November 14, 2024, the company's wholly-owned subsidiary Cathay Pacific Finance III Limited (the issuer) and the company entered into a placement agent agreement with joint placement agents. Accordingly, the joint placement agents have been appointed for the repurchase to assist the issuer in soliciting the intentions of bondholders willing to sell part or all of their existing bonds to the issuer.

As of the publication of this announcement, the issuer has received commitments from bondholders to sell existing bonds totaling a principal amount of 6.078 billion Hong Kong dollars to the issuer through the joint placement agents, along with bonds that have already been converted and canceled, which collectively account for approximately 90.30% of the original issued bonds based on principal amount. The issuer reserves the full discretion to continue accepting offers to purchase existing bonds at the repurchase price at any time after the publication of this announcement and before the end of the VWAP period.

As of the date of this announcement, the total principal amount of outstanding bonds (i.e., existing bonds) is 6.732 billion Hong Kong dollars, which can be fully converted into 0.85 billion shares.

Editor/Rocky