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Swire Shares (00019/00087) plans to promote potentially accelerated share swaps to speed up the HK$4.7 billion Cathay Pacific exchangeable bond exchange process
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According to the Zhitong Finance App, Swire Group A (00019) and Swire Group B (00087) announced that they intend to launch a potential accelerated share exchange transaction for HK$4.7 billion zero-interest exchangeable bonds due 2027 issued by Swire Pacific Finance (a wholly-owned subsidiary of the Company). On September 1, 2026, the company appointed J.P. Morgan Chase, Morgan Stanley, and HSBC as joint management agencies to collect repurchase intentions from non-US bondholders; if the repurchase is implemented, Cathay Pacific shares will be simultaneously placed to speed up the bond exchange process. If the principal amount of the repurchased and cancelled bond reaches 90% or more of its original size, the issuer can exercise the right to redeem all outstanding bonds according to the conditions and the principal amount.


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