Air China issues CNY5 billion corporate bonds

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Air China has issued a second tranche of corporate bonds worth yuan (CNY) 5 billion ($817 million).

The tranche comprises CNY3.5 billion of five-year bonds and CNY1.5 billion of 10-year bonds.

Funds raised will go towards the airline's working capital and also the repayment of existing bank loans, says the Star Alliance carrier.

The airline completed the first tranche of bond issue worth CNY5 billion in January.