Lucky Air completes 500 million yuan short-term bond issue
Hainan Airlines announced its subsidiary Lucky Air has raised 500 million yuan from its first of 2017 paper issue.
The super-short-term bonds, issued to institutional investors via the China interbank bond market, have a maturity of 270 days, with an annualized interest rate of 4.8%.
Hang Fung Bank acted as the lead underwriter for the issue, the Haikou-based airline said Wednesday in a stock exchange statement
Proceeds from the issue will be used to repay debts and replenish working capital.
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