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Air China, the country's largest international airlines company, plans to sell three billion yuan, or US$362 million, of bonds to finance aircraft purchases, the first corporate debt sale by a Chinese air carrier.
Air China says it is awaiting government approval for a sale of local currency, 10-year bonds to Chinese investors this year.
The airline ordered twenty A330-200 aircraft from Airbus worth nearly 3 billion US dollars in January.
Analyst say the sale opens the way for Chinese airlines to raise funds at less than the cost of bank loans.
(CRI.com March 24, 2005)
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