Morningstar

Swire Pacific Plans to Raise $600 Million via Exchangeable Bonds

Provided by Dow Jones Jun 10, 2026, 1:45:00 AM

By Tracy Qu

Hong Kong conglomerate Swire Pacific plans to raise US$600 million via the issuance of bonds exchangeable for Cathay Pacific shares.

Swire Pacific, a major Cathay Pacific shareholder, plans to issue 4.70 billion Hong Kong dollars worth of zero-coupon exchangeable bonds that can be converted into up to 356.6 million Cathay Pacific shares, according to a filing late Tuesday. These shares represent about 5.9% of the airline's total issued shares, it said.

Swire Pacific set the initial exchange price at HK$13.18 a Cathay Pacific share, which represents a 2.9% premium to Cathay Pacific's last closing price.

This follows Swire's announcement in March that it sold part of its stake in the airline, raising US$230 million as working capital.

Write to Tracy Qu at tracy.qu@wsj.com

(END) Dow Jones Newswires

June 09, 2026 21:45 ET (01:45 GMT)

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