AVIC International: the Public Issuance of Renewable Corporate Bonds (Third Tranche)

发布时间:2019-04-15 16:22:54    点击:

Beijing, 22 March 2019 –AVIC International Holding Corporation (AVIC International), rated by Dagong Global Credit Rating Co., Ltd. (Dagong), successfully issued the Renewable Corporate Bonds (Third Tranche). AVIC International has completed the issuance of three tranches of the Renewable Corporate Bonds since 2019, all rated by Dagong.

AVIC International issued the Renewable Corporate Bonds (First Tranche) on January 23, 2019 in a basic offering size of 2 billion yuan. The bonds are referred to as “19 AVIC Y1” (Stock Code: 155960.SH), and the coupon rate is 4.28%. The Second Tranche Bonds were issued on March 8, 2019 with the issue size of 4 billion yuan. The bonds are referred to as “19 AVIC Y3” (Stock Code: 155954.SH), and the coupon rate is 4.50%. The third Tranche Bonds are referred to as “19 AVIC Y5” (Stock Code: 155948.SH), and the issue size is 2.5 billion yuan with coupon rate 4.38%. The credit rating of the three tranches are AAA. The basic term of the Bonds shall not exceed three years. Every three interest-bearing years shall be a cycle of each Tranche. At the end of each term, the Company is entitled to extend the Bonds for an additional term (i.e. three years), or to redeem the Bonds in full as they fall due at the end of the term. The proceeds from the issuance of the Bonds, after deducting the issuing expenses, are proposed to be used to repay borrowings from financial institutions and other external liabilities.

AVIC International is the main enabler for foreign cooperation in the aviation field and the largest aviation product seller in China. It maintains a prominent industry standing in the domestic and international aviation business, and focuses on international aviation, international business, electronic information and modern services. AVIC International owns 9 domestic and foreign listed companies such as AVIC International Holdings Limited (Stock Code: 0161.HK) and AVIC International Holding (HK) Limited (Stock Code: 0232.HK). AVIC International has successfully issued renewable corporate bonds for multiple times in a row, which will help optimize its liability structure, save financial costs, and facilitate its aviation supply chain integrated services system, aviation manufacturing and operations.

Dagong believes that AVIC International has strong market competitiveness and wealth creation ability. With great potential and outstanding position in the industry, the company has become a leading player in the aviation field at home and abroad. Its business covers international aviation technology cooperation, aviation logistics, the integrated supply services for aviation standard parts, subcontract production and aviation component manufacturing, the purchasing and integration services for aviation manufacturing equipment, general aviation engine manufacturing and services, civil and general-purpose aircraft sales and aftersales services, flight training, aviation maintenance, and bidding business.
Edited by: Cui Aiqiao
Industry and Commerce Department
Dagong Global Credit Rating Co., Ltd