Aug. 14, 2012 (China Knowledge) - Aluminum Corporation of China Ltd (Chalco)<601600
>, the country's largest aluminum producer, has said it will issue RMB 5 billion in unsecured super short-term bills with a maturity of 30 days in the interbank market on Aug 15.
The company said in a statement that the bills will be issued at face value, and the coupon rate will be determined in the process of book-building. Both value and payment due date is set on Aug 16, and the to-be-issued bills are tradable Aug 17.
All the proceeds from the issue will be used to repay bank loans, said the issuer.
China Chengxin International Credit Rating Co Ltd has rated the issuer AAA.
China Everbright Bank Co Ltd<601818> has been assigned as the lead underwriter and bookrunner. China Minsheng Banking Corp Ltd<600016
> will be the joint lead underwriter for the offering.
This will be the issuer's second super short-term bills this year.