China Southern issues CNY3 billion short-term bonds

Singapore
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China Southern Airlines has issued CNY3 billion ($482 million) in short-term bonds with a coupon rate of 5.1%.

The 180-day bonds were issued on 21 March, with Fujian based Industrial Bank acting as the lead underwriter.

China Southern says that the funds raised will be used to repay bank loans and bolster its working capital.