Sep. 12, 2012 (China Knowledge) - China Eastern Airlines Co Ltd<600115
>, the country's third-largest carrier, has announced it will issue RMB 4 billion in super short-term bills with a maturity of 270 days on the interbank market on Sep 12.
The air carrier said that the bills will be issued at face value, and the coupon rate determined in the process of book-building.
Both value and payment due date is set on Sep 13, and the to-be-issued bills tradable Sep 14.
RMB 2 billion of the proceeds from the issue will be used to replenish working capital, while the remaining RMB 2 billion to repay bank loans, said the issuer.
Dagong Global Credit Rating Co Ltd has rated the issuer AAA.
Industrial and Commercial Bank of China<601398
>, has been assigned as the lead underwriter and bookrunner. China Minsheng Banking Corp Ltd<600016
> will be the joint lead underwriter for the offering.
This will be the issuer's first super short-term bills this year.