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Swire Pacific Completes Bond Buyback, Reduces Cathay Stake

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Swire Pacific (HKG:0019, HKG:0087) completed its accelerated exchange trade in relation to its bonds on Sept. 9, according to an exchange filing.

The company also bought back a further HK$6 million in bonds from the remaining bondholders at 109.08% of par.

Following the transactions, HK$5 million of the bonds remain outstanding, while HK$4.7 billion, or 99.89% of the original amount, will be canceled.

Swire Pacific's stake in Cathay Pacific Airways (HKG:0293) fell to 2.38 billion shares, representing about 39.15% of the airline.

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