Cathay Pacific puts dollar bond sale on ice after cool reception from investors

Cathay Pacific shelved plans to sell its first US dollar bonds in more than 2 decades after receiving lukewarm interest from potential investors, according to people familiar with the matter. The airline has struggled with steep declines in passenger numbers in recent months and was embroiled in controversy after some of its employees took part in anti-govt protests in Hong Kong. Cathay recently raised US$102m via a private placement of 3-year bonds denominated in the city’s local currency. The company said it would continue to monitor the US dollar bond market in the future. Cathay “came to check on what the pricing could be because they haven’t issued a bond in years, and found out that it wasn’t where they thought it would be,” said a person familiar with the process. <br/>