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Chalco to issue RMB 2 bln bills

Sep. 18, 2012 (China Knowledge) - Aluminum Corporation of China Ltd (Chalco)<601600><2600>, the country's largest aluminum producer, has announced that it plans to issue RMB 2 billion in super short-term bills with a maturity of 180 days in the interbank market on Sep 19.

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 20, and the to-be-issued bills tradable Sep 21.

All the proceeds from the issue will be used to replenish the working capital, said the issuer.

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

China Merchants Bank Co Ltd<600036><3968>, has been hired as lead underwriter and bookrunner. Industrial Bank Co Ltd<601166> will be the joint lead underwriter for the offering.

This will be the issuer's fifth super short-term bills this year.

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