Hainan Airlines prices first corporate 'Lion City' bonds

Hainan Airlines priced its three year offshore renminbi bond on May 15, raising Rmb1.7bn ($273m) at a coupon of 6.25%. The deal was the first offshore RMB corporate bond to be listed, cleared and settled in Singapore, and as such was welcomed by bankers as a new development in what the city-state calls its "Lion City bond" market.