May. 22, 2012 (China Knowledge) - Aluminum Corporation of China Ltd (Chalco)<601600
>, the country's largest aluminum producer, is preparing to issue not more than RMB 6 billion or US$952 million worth of medium-term notes via a private placement, said a person familiar with the matter.
The person added that the notes might have a maturity of three years and would be issued in two tranches.
China Merchants Bank<600036
> and China Construction Bank<601939
> have been assigned as the lead underwriters.
In February, Chalco issued RMB 2 billion of three-year notes with a coupon rate of 4.96%. Bank of Communications<601328
> and Agricultural Bank of China Ltd<601288
> handed the deal.
Chalco suffered RMB 1.09 billion in net loss in the first quarter of this year.