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Chalco to issue RMB 6 bln notes

May. 22, 2012 (China Knowledge) - Aluminum Corporation of China Ltd (Chalco)<601600><2600><ACH>, 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><3968> and China Construction Bank<601939><0939> 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><3328> and Agricultural Bank of China Ltd<601288><1288> handed the deal.

Chalco suffered RMB 1.09 billion in net loss in the first quarter of this year.

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