Cathay Pacific Airways (HKG:0293) will buy back about HK$6.74 billion, 2.75% in convertible bonds due 2026, according to a Friday filing with the Hong Kong bourse.
At the current rate, the bonds will be redeemed for about 850 million shares. The repurchase price will be determined after trading ends on December 19.
If 90% of the bonds are redeemed or converted, Cathay plans to exercise a redemption right to redeem the remaining bonds fully.
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