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Chalco to issue RMB 5 bln bills

Jul. 31, 2012 (China Knowledge) - Aluminum Corporation of China Ltd (Chalco)<601600><2600>, the country's largest aluminum producer, said today that it will issue RMB 3 billion in unsecured super short-term bills with a maturity of 90 days on the interbank market tomorrow, sources reported.

The company said that the bills will be issued at face value, and the coupon rate will be determined in the process of book-building.

Both value date and payment due date will be on Aug. 2, and the to-be-issued bills are tradable on Aug. 3.

China Chengxin International Credit Rating Co Ltd has rated the issuer AAA.
Proceeds from the deal will be used to replenish the group's working capital.

Bank of Communications<601328><3328> has been assigned as lead underwriter and book-runner for the bill offering, and Bank of Beijing Co Ltd <601169> will be joint lead underwriter.
This will be the third super short-term bills issued by the company this year.

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