Cathay Pacific sells first US dollar bond in 27 years to raise working capital as global air travel slumps

Cathay Pacific Airways Limited is selling a US-dollar senior unsecured bond for the first time in about 27 years, as it battles to stabilise its finances amid a slump in international travel.Hong Kong’s dominant carrier is marketing the 5.25-year bond with an initial price guidance of 5.20 per cent, according to a terms sheet seen by the South China Morning Post.Cathay Pacific, an affiliate of the conglomerate Swire Pacific, plans to use the proceeds from the bond as working capital and general…

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