Apr. 11, 2012 (China Knowledge) - Tianjin
Airlines Ltd, a Tianjin-based
carrier set up by Hainan
Airlines Group and the Tianjin
Municipal Government, has said it will issue RMB 500 million worth of 365-day unsecured bills on the interbank market on Apr. 17.
Coupon rate will be determined in the process of bookbuilding. Both value date and payment due date is Apr. 18, and the to-be-issued bills tradable on Apr. 19.
Proceeds from the issue will be used to repay bank loans and replenish working capital, said the issuer.
Shanghai Brilliance Credit Rating & Investors Service Co Ltd has rated the issuer and bills A+ and A-1, respectively.
Bank of Beijing Co Ltd<601169
> has been assigned as the lead underwriter and bookrunner. China Development Bank will be the joint lead underwriter.
This will be the issuer's first short-term bill this year, sources reported.