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Metallurgical Corp of China to issue RMB 4.4 bln in bills

Apr. 5, 2012 (China Knowledge) - Metallurgical Corp of China Ltd<601618><1618> or MCC, the country's leading mining and smelting operator, announced today that it plans to issue RMB 4.4 billion worth of 365-day unsecured bills on the interbank market on Apr. 10, the sources reported.

Coupon rate will be determined in the process of book-building and the bills will be issued at face value. Both value date and payment due date is on Apr. 12, and the to-be-issued bills tradable on Apr. 13.
China Chengxin International Credit Rating Co Ltd has rated the issuer and bills AAA and A-1, respectively.

CITIC Securities Co<600030><6030> has been hired as lead underwriter for the offering and China CITIC Bank Corp<601998><0998> will be joint lead underwriter.

Proceeds from the offering will be used to repay bank loans.

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