China Eastern Airlines launches $419.5 million dim sum bond, term sheet shows
China Eastern Airlines launches $419.5 million dim sum bond, term sheet shows HONG KONG, Nov 11 (Reuters) - China Eastern Airlines Corp 600115.SS has launched a 2.8 billion yuan ($419.5 million) three-year yuan-denominated dim sum bond through its Hong Kong unit, at a launch yield of 1.75%, according to a term sheet seen by Reuters on Wednesday.
Eastern Air Overseas (Hong Kong) Corp is the issuer of the yuan-denominated senior unsecured bond, while China Eastern Airlines will guarantee the bonds
The bonds will pay a fixed coupon twice a year and are due to settle on November 18, 2026
Proceeds will be used to prepay for aircraft purchases and repay existing debt
Bank of China, DBS, Citigroup, CITIC Securities and CICC are among the joint global coordinators and bookrunners
($1 = 6.6742 Chinese yuan renminbi)
(Reporting by Yantoultra Ngui, Editing by Louise Heavens)
((Yantoultra.Ngui@thomsonreuters.com;))
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China Eastern Airlines launches $419.5 million dim sum bond, term sheet shows