China Southern Airlines (CZ, Guangzhou) plans to raise CNY1.5 billion yuan (USD222.5 million) through a 240-day ultra-short-term financing bond issue, with proceeds to repay interest-bearing debt. The notes are due on April 14, 2027. The issuance forms part of plans to raise up to CNY5.5 billion (USD815.6 million) through ultra-short-term financing bonds in August 2026, including this tranche, alongside up to CNY3.5 billion (USD519 million) in medium-term notes.