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China's Hainan Airlines to issue up to CNY800 million in 1-year short-term debt

BEIJING (XFNews) - China's Hainan Airlines, in which George Soros owns an indrect stake, said its board has approved a proposal to issue up to CNY800 million in 365-day debt.

It said the debt will be issued at a discounted price which has yet to be decided.

Proceeds of the issue will be used to supplement working capital and lower financing costs, said the company.

Its shareholders will vote on the debt issue at a meeting scheduled for Jan 24.