<p>[悉尼/香港] 根据消息来源，香港两大公司，运输运营商港铁公司和国泰航空，计划通过分别发行债券筹集至少 170 亿港元（28 亿新元），因为对港元融资的需求达到了年内最高纪录。</p>
<p>LSEG 数据显示，截至 4 月 21 日，香港美元债券发行总额达到 1157 亿港元，比去年增长 16.4%，也是年内最高总额。</p>
<p>根据 LSEG 的数据，2025 年全年发行量攀升至创纪录的 3606 亿港元，比 2024 年增长约 17%，也是有记录以来的最高年度总额。</p>
<p>港铁公司计划通过三期债券发行筹集至少 150 亿港元，两个知情人士透露，如果需求足够，交易规模可能会增加。另一位消息人士表示，债券发行可能达到 200 亿港元。</p>
<p>根据路透社看到的条款清单，香港受欢迎的地铁系统运营商及土地所有者计划发行五年、十年和三十年的绿色债券。根据路透社看到的承销商信息，投资者已为港铁公司的债券下单至少 600 亿港元。</p>
<p>港铁公司未立即回应路透社的评论请求。</p>
<h3>在新的全球秩序中导航亚洲</h3>
<p>获取洞察信息，直接发送到您的邮箱。</p>
<h2>国泰航空瞄准 20 亿港元</h2>
<p>另外，香港航空公司国泰航空计划通过一或两期固定利率的港元债券筹集约 20 亿港元，两个知情人士透露。</p>
<p>这两笔债券交易的进行正值债务发行人和投资者评估结束伊朗战争的可能性以及霍尔木兹海峡重新开放的可能性，这些因素导致燃料成本急剧上升。</p>
<p>根据路透社周二看到的条款清单，该航空公司计划发行三年或五年的固定利率港元债券，可能会同时发行两者。</p>
<p>另见</p>
<p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/f49b10f254864cc1df3b6ace2ac003fec48a2b8eea31d7c71cd96ba2717b540e/query-ZHByPTEmZj13ZWJwJnc9MjQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/f49b10f254864cc1df3b6ace2ac003fec48a2b8eea31d7c71cd96ba2717b540e/query-ZHByPTEmZj13ZWJwJnc9MjQw"/></p>
<h3>亚洲航空公司报告欧洲需求激增，海湾枢纽中断转移交通</h3>
<p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/db3374da3681a01b3400bc9c22362c1269f52aca92658e0c3eb3b965bc147f10/query-ZHByPTEmZj13ZWJwJnc9MjQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/db3374da3681a01b3400bc9c22362c1269f52aca92658e0c3eb3b965bc147f10/query-ZHByPTEmZj13ZWJwJnc9MjQw"/></p>
<h3>国泰航空将于 5 月中旬至 6 月底削减航班，因航空燃油价格飙升</h3>
<p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/aaec7b605c48fc1de04f75d64009ee1340c2af812f6c27e90d60a91f1dc3299d/query-ZHByPTEmZj13ZWJwJnc9MjQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/aaec7b605c48fc1de04f75d64009ee1340c2af812f6c27e90d60a91f1dc3299d/query-ZHByPTEmZj13ZWJwJnc9MjQw"/></p>
<h3>国泰航空寄希望于东南亚日益壮大的中产阶级推动下一阶段增长</h3>
<p>根据条款清单，全球投资者电话会议将于周二举行，债券交易可能在周三开始，但未说明交易规模。</p>
<p>汇丰银行是国泰中期票据计划的安排人，交易商包括中国银行（香港）、巴克莱、法国巴黎银行、星展银行、摩根士丹利、华侨银行、渣打银行和瑞银，国泰的发行说明书显示。</p>
<p>消息来源因讨论尚未公开的信息而无法透露姓名。</p>
<p>国泰未立即回应评论请求。</p>
<p>全球航空公司在伊朗战争和飙升的航空燃油价格的影响下面临严峻的运营环境，短期内预计不会缓解。</p>
<p>国泰本月早些时候表示，将从 5 月中旬到 6 月底削减部分航班，原因是冲突引发的航空燃油成本飙升。路透社</p>
<p>解码亚洲通讯：您的新全球秩序下导航亚洲的指南。点击此处注册以获取解码亚洲通讯，直接发送到您的邮箱，免费。</p>

港铁公司

国泰航空

<p>两家主要的香港公司，港铁公司和国泰航空，计划通过债券发行筹集至少 170 亿港元，因香港美元融资需求创下纪录。港铁公司计划通过三期债券发行筹集 150 亿港元，因投资者兴趣浓厚，可能增加至 200 亿港元。国泰航空则计划通过固定利率债券筹集 20 亿港元。这一消息正值全球航空公司面临因地缘政治紧张局势导致的燃料成本上升的挑战</p>

<p>[SYDNEY/HONG KONG] Two of Hong Kong’s biggest companies, transport operator MTR Corp and airline Cathay Pacific, are aiming to raise at least HK$17 billion (S$2.8 billion) through separate bond issues, according to sources, as demand for Hong Kong dollar funding hits a record year-to-date high.</p>
<div class="lb-trans"><p>[悉尼/香港] 根据消息来源，香港两大公司，运输运营商港铁公司和国泰航空，计划通过分别发行债券筹集至少 170 亿港元（28 亿新元），因为对港元融资的需求达到了年内最高纪录。</p>
</div><p>LSEG data show Hong Kong dollar bond issuance reached HK$115.7 billion, as of Apr 21, up 16.4 per cent from a year earlier and the highest year-to-date total ever.</p>
<div class="lb-trans"><p>LSEG 数据显示，截至 4 月 21 日，香港美元债券发行总额达到 1157 亿港元，比去年增长 16.4%，也是年内最高总额。</p>
</div><p>Full-year issuance climbed to a record HK$360.6 billion in 2025, up about 17 per cent from 2024 and also the highest annual total on record based on LSEG data.</p>
<div class="lb-trans"><p>根据 LSEG 的数据，2025 年全年发行量攀升至创纪录的 3606 亿港元，比 2024 年增长约 17%，也是有记录以来的最高年度总额。</p>
</div><p>MTR Corp is looking to raise at least HK$15 billion in a three-tranche bond issuance, according to two sources with direct knowledge of the matter, who added the deal size could be increased if there was sufficient demand. The bond issuance could reach HK$20 billion, one of the sources added.</p>
<div class="lb-trans"><p>港铁公司计划通过三期债券发行筹集至少 150 亿港元，两个知情人士透露，如果需求足够，交易规模可能会增加。另一位消息人士表示，债券发行可能达到 200 亿港元。</p>
</div><p>The operator of Hong Kong’s popular subway system and land owner is planning to issue five-, 10- and 30-year green bonds, according to a term sheet seen by Reuters. There has been at least HK$60 billion worth of orders placed by investors for MTR Corp bonds, according to a book runners’ message seen by Reuters.</p>
<div class="lb-trans"><p>根据路透社看到的条款清单，香港受欢迎的地铁系统运营商及土地所有者计划发行五年、十年和三十年的绿色债券。根据路透社看到的承销商信息，投资者已为港铁公司的债券下单至少 600 亿港元。</p>
</div><p>MTR Corp did not immediately respond to a request for comment from Reuters.</p>
<div class="lb-trans"><p>港铁公司未立即回应路透社的评论请求。</p>
</div><h3>Navigate Asia in  a new global order</h3>
<div class="lb-trans"><h3>在新的全球秩序中导航亚洲</h3>
</div><p>Get the insights delivered to your inbox.</p>
<div class="lb-trans"><p>获取洞察信息，直接发送到您的邮箱。</p>
</div><h2>Cathay eyes HK$2 billion</h2>
<div class="lb-trans"><h2>国泰航空瞄准 20 亿港元</h2>
</div><p>Separately, Hong Kong carrier Cathay Pacific is aiming to raise about HK$2 billion through a one- or two-tranche fixed-rate Hong Kong dollar bond, according to two sources with direct knowledge of the matter.</p>
<div class="lb-trans"><p>另外，香港航空公司国泰航空计划通过一或两期固定利率的港元债券筹集约 20 亿港元，两个知情人士透露。</p>
</div><p>The two bond deals are taking place as debt issuers and investors assess the likelihood a deal will be struck to end the Iran war and the Strait of Hormuz to be re-opened, factors that have driven fuel costs sharply higher.</p>
<div class="lb-trans"><p>这两笔债券交易的进行正值债务发行人和投资者评估结束伊朗战争的可能性以及霍尔木兹海峡重新开放的可能性，这些因素导致燃料成本急剧上升。</p>
</div><p>The airline is planning to issue a three- or five-year fixed-rate Hong Kong dollar bond and possibly both, according to a term sheet seen by Reuters on Tuesday.</p>
<div class="lb-trans"><p>根据路透社周二看到的条款清单，该航空公司计划发行三年或五年的固定利率港元债券，可能会同时发行两者。</p>
</div><p>SEE ALSO</p>
<div class="lb-trans"><p>另见</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/f49b10f254864cc1df3b6ace2ac003fec48a2b8eea31d7c71cd96ba2717b540e/query-ZHByPTEmZj13ZWJwJnc9MjQw" alt="" original-src="https://cassette.sphdigital.com.sg/image/businesstimes/f49b10f254864cc1df3b6ace2ac003fec48a2b8eea31d7c71cd96ba2717b540e?w=240&amp;dpr=1&amp;f=webp"/></p>
<h3>Asian airlines report Europe demand surge as Gulf hub disruption shifts traffic</h3>
<div class="lb-trans"><h3>亚洲航空公司报告欧洲需求激增，海湾枢纽中断转移交通</h3>
</div><p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/db3374da3681a01b3400bc9c22362c1269f52aca92658e0c3eb3b965bc147f10/query-ZHByPTEmZj13ZWJwJnc9MjQw" alt="" original-src="https://cassette.sphdigital.com.sg/image/businesstimes/db3374da3681a01b3400bc9c22362c1269f52aca92658e0c3eb3b965bc147f10?w=240&amp;dpr=1&amp;f=webp"/></p>
<h3>Cathay Pacific to cut flights from mid-May to end-June as jet fuel prices surge</h3>
<div class="lb-trans"><h3>国泰航空将于 5 月中旬至 6 月底削减航班，因航空燃油价格飙升</h3>
</div><p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/aaec7b605c48fc1de04f75d64009ee1340c2af812f6c27e90d60a91f1dc3299d/query-ZHByPTEmZj13ZWJwJnc9MjQw" alt="" original-src="https://cassette.sphdigital.com.sg/image/businesstimes/aaec7b605c48fc1de04f75d64009ee1340c2af812f6c27e90d60a91f1dc3299d?w=240&amp;dpr=1&amp;f=webp"/></p>
<h3>Cathay Pacific counts on South-east Asia’s burgeoning middle class to drive next growth phase</h3>
<div class="lb-trans"><h3>国泰航空寄希望于东南亚日益壮大的中产阶级推动下一阶段增长</h3>
</div><p>A global investor call will take place on Tuesday and the bond deal could begin on Wednesday, according to the term sheet, which did not identify the size of the deal.</p>
<div class="lb-trans"><p>根据条款清单，全球投资者电话会议将于周二举行，债券交易可能在周三开始，但未说明交易规模。</p>
</div><p>HSBC is the arranger of Cathay’s medium-term note programmeme, while dealers include Bank of China (Hong Kong), Barclays, BNP Paribas, DBS, Morgan Stanley, OCBC, Standard Chartered and UBS, Cathay’s offering circular showed.</p>
<div class="lb-trans"><p>汇丰银行是国泰中期票据计划的安排人，交易商包括中国银行（香港）、巴克莱、法国巴黎银行、星展银行、摩根士丹利、华侨银行、渣打银行和瑞银，国泰的发行说明书显示。</p>
</div><p>The sources could not be named discussing information that had not yet been made public.</p>
<div class="lb-trans"><p>消息来源因讨论尚未公开的信息而无法透露姓名。</p>
</div><p>Cathay did not immediately respond to a request for comment.</p>
<div class="lb-trans"><p>国泰未立即回应评论请求。</p>
</div><p>Global airlines face a tough operating environment in the wake of the Iran war and surging jet fuel prices which are not expected to ease in the short term.</p>
<div class="lb-trans"><p>全球航空公司在伊朗战争和飙升的航空燃油价格的影响下面临严峻的运营环境，短期内预计不会缓解。</p>
</div><p>Cathay said earlier this month that it will cut some flights from mid-May until the end of June, citing soaring jet fuel costs triggered by the conflict. REUTERS</p>
<div class="lb-trans"><p>国泰本月早些时候表示，将从 5 月中旬到 6 月底削减部分航班，原因是冲突引发的航空燃油成本飙升。路透社</p>
</div><p>Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.</p>
<div class="lb-trans"><p>解码亚洲通讯：您的新全球秩序下导航亚洲的指南。点击此处注册以获取解码亚洲通讯，直接发送到您的邮箱，免费。</p>
</div>

Blue-chips Cathay, MTR tap record-hot Hong Kong dollar bond market

Businesstimes News

汇丰控股

汇丰

中银香港

巴克莱银行

法国巴黎银行(ADR)

星展集团控股

摩根士丹利

华侨银行

渣打集团

瑞银集团

伦敦证券交易所(ADR)

HSBC 5xShortSG241213

汇丰控股有限公司

中国银行(ADR)

中国银行

MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

渣打银行

LONDON STOCK EXCHANGE GROUP SPON ADS EACH REP 0.25 ORD

蓝筹股国泰航空和港铁公司抓住创纪录火热的港元债券市场