Allen & Overy advises on Cathay Pacific’s convertible bonds

Proceeds from the bonds will be used for general corporate purposes and to further strengthen the company’s liquidity and working capital position. 

This issuance follows announcements in 2020 of Cathay’s HKD39bn recapitalisation plan which included a HKD11.7bn rights issue, a transaction which A&O also advised on. 

The multidisciplinary A&O team involved in this transaction included capital markets partner Agnes Tsang and corporate partner Lina Lee, supported by senior associate Joel Lam and associates Shue Sing Churk, Michelle Tsang and Jia Yan Low. Derivatives and structured finance partner Yvonne Siew and associate Yibin Ren provided advice on the stock lending and Of Counsel Andre da Roza provided Hong Kong regulatory advice. 

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