Swire Pacific Completes Accelerated Exchange Transaction Involving Cathay Shares

Swire Pacific said it has successfully completed an accelerated exchange transaction involving a bond repurchase and the placement of Cathay Pacific shares, according to Ming Pao. The company repurchased bonds with a total principal amount of HK$4.689 billion, representing about 99.77% of the total bond principal and 109.08% of principal as the repurchase price. It also sold 362 million Cathay Pacific shares at HK$13.20 each, a discount of about 7.7% to the previous close. The remaining outstanding bond principal is about HK$11 million.