China Eastern Issues 2 Billion Yuan Super & Short-Term Commercial Paper

China Eastern Airlines (MU) Friday completed the issue of a 2 billion yuan super & short-term commercial paper (SCP), its sixth batch of SCP this year.

The SCP will have a maturity of 270 yuan, with a face value of 100 yuan and an interest rate of 3.1%.

The Shanghai-based carrier said the fund collected from the SCP will be used to replace loans of the airline and its subsidiaries.

The annual shareholders' meeting 2013 of China Eastern has agreed the airline to issue not more than 20 billion yuan of SCP, with a maturity of not more than 270 days.