China Eastern to issue CNY2.2bn bonds

Victoria
By Victoria May 30, 2013 10:14

China Eastern to issue CNY2.2bn bonds

In an SEC filing today, China Eastern Airlines (CEA) has stated its intention to issue CNY 2.2 billion ($359 million) in bonds with a 3.86% interest rate.

“The Board is pleased to announce that on 29 May 2013, the Company, the Issuer (a wholly-owned subsidiary of the Company) and the Joint Lead Managers entered into the Subscription Agreement in relation to the issue of RMB2.2 billion 3.875% guaranteed bonds due 2016 by the Issuer.”

The issuer of the bonds is Eastern Air Overseas (Hong Kong) Corporation Limited, a wholly-owned subsidiary of the Company. The closing date for the three-year bonds is June 5, 2013.

Deutsche Bank, HSBC, SC and ABC are the Joint Lead Managers and Joint Bookrunners in connection with the Bond Issue. The Issuer intends to use the net proceeds from the Bond Issue for working capital and other general corporate purposes.

Victoria
By Victoria May 30, 2013 10:14
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