By Marisa Wong
Madison, Wis., Aug. 2 - China Eastern Airlines Corp. Ltd.'s subsidiary Eastern Air Overseas (Hong Kong) Corp. Ltd. priced RMB 2.5 billion of 4% guaranteed bonds due Aug. 8, 2014 at par on Monday.
The bonds are guaranteed by China Eastern.
The Hongkong and Shanghai Banking Corp. Ltd., China International Capital Corp. Hong Kong Securities Ltd., Deutsche Bank AG, Hong Kong Branch and Agricultural Bank of China Ltd., Hong Kong Branch are the joint lead managers and joint bookrunners.
Proceeds from the bond issue will be used for working capital and other general corporate purposes.
China Eastern previously announced that it plans to issue up to RMB 8 billion of bonds in one or more tranches of up to five years depending on market conditions.
Settlement for the 4% bonds will occur on Aug. 8.
The airline is based in Shanghai.
| Issuer: | Eastern Air Overseas (Hong Kong) Corp. Ltd.
|
| Guarantor: | China Eastern Airlines Corp. Ltd.
|
| Issue: | Guaranteed bonds
|
| Amount: | RMB 2.5 billion
|
| Maturity: | Aug. 8, 2014
|
| Coupon: | 4%
|
| Price: | Par
|
| Yield: | 4%
|
| Bookrunners: | The Hongkong and Shanghai Banking Corp. Ltd., China International Capital Corp. Hong Kong Securities Ltd., Deutsche Bank AG, Hong Kong Branch and Agricultural Bank of China Ltd., Hong Kong Branch
|
| Pricing date: | Aug. 1
|
| Settlement date: | Aug. 8
|
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