Cathay Pacific announces first HKD public bond
Cathay Pacific announced (24-Apr-2026) the successful pricing of a three-year fixed-rate HKD bond totalling HKD2.08 billion (USD265.45 million) at 3.78%, marking the airline's first fundraising in the HKD public bond market. Cathay Pacific CFO Rebecca Sharpe stated: "Announcing our first ever HKD 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". The bond issuance is under the airline's USD2.5 billion Medium Term Note Programme, and Cathay plans to use the proceeds from the bond for working capital and general corporate purposes. [more - original PR]
Background ✨
Cathay Pacific Group repaid the Hong Kong Government’s HKD19.5 billion preference share investment from its 2020 recapitalisation, and paid dividends up to 31-Jul-2024, taking total preference dividends to HKD2.44 billion; the unused HKD7.8 billion bridge loan expired on 08-Jun-20231. It later agreed to buy back all recapitalisation warrants from the Hong Kong Government for at least HKD1.5 billion, funded from existing sources2.