Air China gets go-ahead to issue up to RMB 12 billion corporate bonds

By Marisa Wong

Morgantown, W.Va., Aug. 3 – Air China Ltd. said it obtained regulatory approval to issue up to RMB 12 billion of corporate bonds in tranches, with the first tranche to be completed within 12 months.

The company initially announced in March plans to issue bonds in one or more tranches with maturities of no more than five years.

Proceeds will be used to meet business operation needs, replenish working capital and repay debt, as previously reported.

The airline is based in Beijing.

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