Cathay Pac to market Singapore dollar bond next week
Published on Fri, Oct 06, 2006 at 10:49 | Source : reuters
Updated at Fri, Oct 06, 2006 at 15:32
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Cathay Pac to market Singapore dollar bond next week
Cathay Pacific Airways will begin marketing a Singapore dollar-denominated bond in Singapore next week, a market source said on Friday, reports Reuters.
Cathay Pacific Airways will begin marketing a Singapore dollar-denominated bond in Singapore next week, a market source said on Friday, reports Reuters.
The source gave no details on the size and maturity of the proposed issue, its second Singapore dollar bond. DBS Bank and Standard Chartered Bank are managing the offer.
Sources told Reuters in Singapore in August that Cathay was expected to raise as much as S $ 500 million from a bond issue in the fourth quarter. The airline last issued a Singapore dollar bond in February 2005 when it raised S $ 225 million in a five-year bond with a coupon of 3.0575%.
DBS and StanChart were the lead managers on the deal. Cathay posted flat first-half earnings of HK $ 1.67 billion as robust passenger growth around its north Asian stronghold offset high fuel prices.
Sources told Reuters in Singapore in August that Cathay was expected to raise as much as S $ 500 million from a bond issue in the fourth quarter. The airline last issued a Singapore dollar bond in February 2005 when it raised S $ 225 million in a five-year bond with a coupon of 3.0575%.
