by Amruth Sundarkumar | Jun 17, 2021 | High Yield Bonds, Hong Kong
Hong Kong based Insurance company FWD Group is looking to amend terms of its offshore bonds after its holding company, PCGI Intermediate Holdings (PCGIIH) owned by Richard Li announced a proposed Initial Public Offering (IPO) at the US Securities and Exchange...
by Amruth Sundarkumar | Jun 9, 2021 | High Yield Bonds, Hong Kong
Hong Kong’s embattled flag carrier Cathay Pacific welcomed the extension of the HKD 7.8bn ($1bn) bridge loan from the Hong Kong SAR Government on June 8, 2021. The airline, which is dealing with reduced business due to the ongoing pandemic, said that the...
by bondevalue | May 11, 2021 | High Yield Bonds, Hong Kong
Hong Kong flag carrier Cathay Pacific raised $650mn via a 5.25Y bond at a yield of 4.875%, 32.5bp inside initial guidance of 5.2% area. The bonds were unrated and received orders over $1.5bn, 2.3x issue size. Proceeds will be used for bolstering its working capital...
by bondevalue | Mar 15, 2021 | Hong Kong
Genting Hong Kong Limited released a profit warning on Friday via an exchange filing stating that it is expected to report a consolidated operating and net loss of not less than $600mn and $1.5bn respectively for 2020. This is significantly wider than its reported...
by bondevalue | Mar 11, 2021 | Hong Kong, Investment Grade Bonds
Cathay Pacific reported a net loss of HKD 21.65bn ($2.8bn) for 2020, its worst ever on record. The airline reported a loss of HKD 9.87bn ($1.27bn) in 1H2020 and another HK$11.8bn ($1.5bn) in the second half of the year. The losses include impairment and related...
by bondevalue | Feb 2, 2021 | High Yield Bonds, Hong Kong
According to IFR, broadband and cloud computing company, Dr. Peng Telecom & Media Group is seeking to amend terms on its 7.55% bonds due 2021, which have a total principal outstanding amount of $257.6mn. The company is in discussion with its creditors for a...
