New Issue: Eastern Air Overseas issues S$500 million 2% credit-enhanced bonds due 2026

By William Gullotti

Buffalo, N.Y., July 15 – Eastern Air Overseas (Hong Kong) Corp. Ltd. priced S$500 million of 2% credit enhanced bonds (A1) due July 15, 2026, according to a notice Thursday.

The bonds will be supported by Industrial and Commercial Bank of China Ltd., Shanghai Municipal Branch’s irrevocable letter of credit.

DBS Bank Ltd., SPDB International Capital Ltd., Industrial and Commercial Bank of China Ltd., Singapore Branch, CLSA Singapore Pte Ltd, Bank of China Ltd., Singapore Branch, Bank of Communications Co., Ltd., Hong Kong Branch, China Construction Bank Corp., Singapore Branch, China Everbright Securities (HK) Ltd., China Industrial Securities International Brokerage Ltd., China Securities (International) Corporate Finance Co., Ltd., CMBC Securities Co., Ltd., Haitong International Securities Co., Ltd., Shanghai Pudong Development Bank Co., Ltd., Singapore Branch and Standard Chartered Bank (Singapore) Ltd. are listed as joint lead managers and bookrunners.

The bonds are expected to be listed on the Singapore Exchange on July 16.

The company is a unit of China Eastern Airlines Corp. Ltd.

Issuer:	Eastern Air Overseas (Hong Kong) Corp. Ltd.
Issue:	Credit-enhanced bonds
Amount:	S$500 million
Maturity:	July 15, 2026
Bookrunners:	DBS Bank Ltd., SPDB International Capital Ltd., Industrial and Commercial Bank of China Ltd., Singapore Branch, CLSA Singapore Pte Ltd, Bank of China Ltd., Singapore Branch, Bank of Communications Co., Ltd., Hong Kong Branch, China Construction Bank Corp., Singapore Branch, China Everbright Securities (HK) Ltd., China Industrial Securities International Brokerage Ltd., China Securities (International) Corporate Finance Co., Ltd., CMBC Securities Co., Ltd., Haitong International Securities Co., Ltd., Shanghai Pudong Development Bank Co., Ltd., Singapore Branch and Standard Chartered Bank (Singapore) Ltd.
Coupon:	2%
Issue date:	July 15
Listing date:	July 16
Ratings:	Moody’s: A1

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