HKA bonds jump on payment reassurance

Business | 11 Jan 2019 6:12 pm

Prices of some perpetual bonds issued by debt-laden Chinese conglomerate HNA Group's Hong Kong Airlines leapt on Friday after the carrier said it would be able to meet interest payments due this month, Reuters reported.

Blue Skyview Company, a financing unit of Hong Kong Airlines, on Thursday said it would be able to meet, on time, the next interest payment on 7.125 percent perpetual bonds, due on January 26.

The bonds, with US$683 million outstanding according to Refinitiv Eikon, were bid at 76 on Friday, up from 69.875 on Thursday, Tradeweb data showed. Bonds are typically issued at or near par value of 100 cents in the dollar.

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