Swire Pacific A (00019) and Swire Pacific B (00087) announced that on June 9, 2026, Swire Pacific Finance, a wholly-owned subsidiary, as the issuer, and the company, as the guarantor, entered into a subscription agreement with the manager.

Under this agreement, Swire Pacific Finance conditionally agreed to issue bonds with a total principal amount of HK$4.7 billion.

Based on a preliminary exchange price of HK$13.18 per Cathay Pacific (00293) share, and assuming full exchange of the bonds at this price, the bonds would be exchangeable for approximately 356.6 million Cathay Pacific shares.

This represents about 5.9% of the total issued Cathay Pacific shares as of the announcement date, assuming the bonds are fully exchanged.

Swire Pacific Finance expects to receive net proceeds of approximately HK$4.652 billion from the bond issuance, which are intended to be used for general working capital purposes.