China Southern Airlines has issued CNY5 billion ($725 million) in three-year bonds.

The airline says in a Shanghai Stock Exchange disclosure that the bonds priced at a coupon rate of 3.72%. The bonds have been rated ‘AAA’ by United Credit Rating, similar to the carrier’s corporate rating.

CITIC Jiantou Securities is the lead underwriter and trustee for the bonds.

The latest issuance of bonds comes on the back of a resolution passed in the airline’s 2017 annual general meeting to issue debt financing instruments.

Source: Cirium Dashboard