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Air China to issue RMB 1 bln MTN

Oct. 22, 2012 (China Knowledge) - China National Aviation Holding Company<601111><0753>, the nation's flagship carrier, has announced it will issue RMB 1 billion in medium-term notes with a maturity of three years in the interbank market on Oct 29.

The company said in a statement that the notes 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 Oct 30, and the to-be-issued notes tradable Oct 31.

RMB 400 million of the proceeds from the issue will be used to replenish working capital RMB 200 million to repay bank loans, while the remaining RMB 400 million to build office buildings, said the issuer.

China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AAA and AAA, respectively.

Bank of China<601988><3988> and China CITIC Bank Corp<601998><0998> have been hired as joint lead underwriter for the offering.







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