Jul. 24, 2012 (China Knowledge) - China Southern Airlines Co Ltd<600029
>, the country's largest air carrier by fleet size, announced today that it plans to issue RMB 1.8 billion in super short-term bills with a maturity of 270 days on the interbank market on Jul 25.
According to a statement, the company said that the bills will be issued at face value, and the coupon rate will be determined in the process of book-building.
Both value date and payment due date is set on Jul 27, and the to-be-issued bills tradable Jul 30.
China Lianhe Credit Rating Co Ltd has rated the issuer AAA.
Agricultural Bank of China Ltd or ABC<601288
> has been assigned as the lead underwriter and bookrunner. China Construction Bank Corp or CCB<601939
> will be the joint lead underwriter for the offering.
The company said all the proceeds will be used to repay bank loans.