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Chinalco to issue RMB 6 bln in 270 day bills

Sep. 11, 2012 (China Knowledge) - Aluminum Corp of China, or Chinalco, the parent of China's largest aluminum producer Chalco<601600><2600>, has announced that it plans to issue RMB 6 billion in super short-term bills with a maturity of 270 days on the interbank market tomorrow.

According to a statement, the power company said 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. 13 and the to-be-issued bills tradable Sep. 14.

China Chengxin International Credit Rating Co Ltd has rated the issuer AAA.

Proceeds from the deal will be used to repay bank loans.

China Construction Bank Co<601939><0939> has been hired as book-runner and lead underwriter for the offering and Shanghai Pudong Development Bank<600000> will be joint lead underwriter.
This will be the third super short-term bills issued by the company this year.
The company booked a net profit of RMB 186 million on operating revenue of RMB 54.24 billion.

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