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China Southern Airlines to issue RMB 1.8 bln bills

Jul. 24, 2012 (China Knowledge) - China Southern Airlines Co Ltd<600029><1055>, 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><1288> has been assigned as the lead underwriter and bookrunner. China Construction Bank Corp or CCB<601939><0939> will be the joint lead underwriter for the offering.

The company said all the proceeds will be used to repay bank loans.







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