Sat, Oct 19, 2019 - 5:50 AM
The airline, the biggest corporate casualty of widespread anti-government protests in the Asian financial hub, on Friday lowered its second-half profit expectations, citing"incredibly challenging" conditions in its home market. However, investors demanded a higher price of at least 300 basis points over US Treasuries, which made the deal more expensive for Cathay, said the sources, who were not authorised to speak publicly about the matter. Cathay's term sheet had said that the transaction would be reliant on market conditions.
Dealogic data showed that Cathay raised US$102 million in October and US$64 million in May through Hong Kong-dollar denominated deals.
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