Cathay Pacific Airways has announced a HK39 billion ($5 billion) recapitalisation plan.
The recapitalisation plan involves a proposed $2.5 billion issue of preference shares with detachable warrants; a proposed US$1.5 billion rights issue; and a proposed US$1 billion bridge loan facility.
The plan aims to provide the airline with liquidity and strengthen its capital in light of the COVID 19 pandemic and other challenges pertaining to widespread travel restrictions imposed by many countries.
Adam Majeed - IFLR1000
Hong Kong SAR
Capital markets : Equity