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HNA Retailing to issue RMB 900 mln MTN

Apr. 9, 2012 (China Knowledge) - HNA Retailing, a subsidiary of HNA Group, the parent company of Hainan Airlines Co Ltd<600221><900945>, has announced plans to issue RMB 900 million worth of notes with a maturity of three years on the interbank market on Mar. 13.

Coupon rate will be determined in the process of bookbuilding. Both value date and payment due date is Mar. 16, and the to-be-issued notes tradable on Mar. 17.

Proceeds from the issue will be used to repay bank loans and replenish working capital, said the issuer.

China Lianhe Credit Rating Co Ltd has rated the issuer and notes AA- and AA-, respectively.

Bank of Beijing Co Ltd<601169> has been assigned as the lead underwriter and bookrunner.

This will be the issuer's first medium-term note this year, sources reported.






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