Aug. 31, 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 short-term bills with a maturity of 365 days in the interbank market on Sep 7.
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 Sep 10, and the to-be-issued bills tradable Sep 11.
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 issue and bills AAA and A-1, respectively.
Agricultural Bank of China Ltd<601288
> has been assigned as the lead underwriter and bookrunner. China CITIC Bank Corp<601998
> will be the joint lead underwriter for the offering.
This will be the issuer's second short-term bills this year.