Cathay Pacific applies to sell US$2b in medium notes
Cathay Pacific Airways applied to raise US$2b in debt over the next 12 months. The medium term note program, arranged by HSBC Holdings, is expected to take effect Wednesday, Cathay Pacific said to the Hong Kong Stock Exchange late Tuesday. Such debt programs are offered to institutional investors and give issuers the flexibility to access foreign markets continuously as needed. CE Ivan Chu has ordered more than $10b in new aircraft, including the Airbus A350 and Boeing 777X, to take on mounting competition from Chinese and Middle Eastern airlines. Cathay Pacific has struggled to revive profitability, with the carrier reporting this month that passenger yields slumped to the lowest in 7 years. Cathay expects to take delivery of 12 A350s this year after its first in May. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-08-25/oneworld/cathay-pacific-applies-to-sell-us-2b-in-medium-notes
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Cathay Pacific applies to sell US$2b in medium notes
Cathay Pacific Airways applied to raise US$2b in debt over the next 12 months. The medium term note program, arranged by HSBC Holdings, is expected to take effect Wednesday, Cathay Pacific said to the Hong Kong Stock Exchange late Tuesday. Such debt programs are offered to institutional investors and give issuers the flexibility to access foreign markets continuously as needed. CE Ivan Chu has ordered more than $10b in new aircraft, including the Airbus A350 and Boeing 777X, to take on mounting competition from Chinese and Middle Eastern airlines. Cathay Pacific has struggled to revive profitability, with the carrier reporting this month that passenger yields slumped to the lowest in 7 years. Cathay expects to take delivery of 12 A350s this year after its first in May. <br/>
