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Capital Airports Holdings to issue RMB 5.1 bln notes

Aug. 15, 2012 (China Knowledge) - Capital Airports Holdings Co, a wholly-owned entity of the Civil Aviation Administration of China, has said today that it plans to issue RMB 5.1 billion worth of unsecured medium-term notes with a maturity of five years on the interbank market on Aug. 22.

The company said in a statement that the notes will be issued at face value and coupon rate determined in the process of book-building.

Both value and payment due date is on Aug. 23 and the to-be-issued notes tradable Aug. 24.

China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AAA and AAA, respectively.
China Construction Bank Co<601939><0939> and Bank of China Ltd<601988><3988> have been hired as joint lead underwriters for the deal.

The company plans to use RMB 3 billion of the proceeds to repay bank loans and RMB 2.1 billion to replenish working capital.

In the first quarter of this year, the company suffered a loss of RMB 378 million and its operating revenue was RMB 4.93 billion.

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