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Chalco to issue RMB 3 bln in 60-day bills

Jul. 3, 2012 (China Knowledge) - Aluminum Corporation of China Ltd (Chalco)<601600><2600>, the country's largest aluminum producer, has announced that it plans to issue RMB 3 billion in super short-term bills with a maturity of 60 days on the interbank market tomorrow.

Coupon rate will be determined in the process of book-building and the bills be issued at face value.

Both value date and payment due date is Jul. 5 and the to-be-issued bills tradable on Jul. 6.
China Chengxin International Credit Rating Co Ltd has rated the issuer AAA.

China Minsheng Banking Corp Ltd<600016><1988> has been hired as book-runner and lead underwriter for the offering and China Construction Bank Co<601939><0939> will be joint lead underwriter for the offering.

The company suffered a loss of RMB 1.09 billion in the first quarter of this year, although seeing its core business revenue rise 18.97% YoY to RMB 33.59 billion.

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