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China Southern Airlines Co. on Thursday opened subscriptions for 16 billion yuan ($2.4 billion) of its convertible bonds, the largest deal for a non-financial firm since China Petroleum & Chemical Corp. sold 23 billion yuan of the notes in early 2011.
The sale, also the biggest in a year and a record for the civil aviation sector in China, comes after only eight deals were priced in September, the least since May.
Airlines around the world have struggled to stay afloat after the coronavirus pandemic forced governments to shut borders and paralyzed air . . .
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