Aug. 28, 2012 (China Knowledge) - Aluminum Corporation of China Ltd (Chalco)<601600
>, the country's largest aluminum producer, has said it will issue RMB 4 billion in unsecured super short-term bills with a maturity of 270 days in the interbank market on Aug 29.
The company said in a statement that the bills will be issued at face value, and the coupon rate determined in the process of book-building.
Both value and payment due date is set on Aug 30, and the to-be-issued bills tradable Aug 31.
All the proceeds from the issue will be used to replenish working capital, said the issuer.
China Chengxin International Credit Rating Co Ltd has rated the issue AAA.
China Construction Bank Corp<601939
> 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 fourth super short-term bills this year.