-China Development Bank picked lead underwriter for Chalco's debt sale.
BANKING AND CREDIT NEWS-September 5, 2011--China Development Bank picked lead underwriter for Chalco's debt sale(C)2011 M2 COMMUNICATIONS http://www.m2.com
5 September 2011 - Aluminum Corporation of China Ltd (SHA:601600;HKG:2600), or Chalco, has mandated China Development Bank to act as lead underwriter for its planned issue of CNY5bn (USD783m/EUR553.6m) worth of medium-term bills, China Knowledge reports today citing a company statement.
Chalco has also hired Bank of China (HKG:3988;SHA:601988) to serve as joint lead underwriter for the offering, which has a five-year maturity.
The debt will be placed on the interbank market on 8 September.
The raised funds from the offering will go for the reinforcement of the company's working capital.
The bills are rated AAA by China Chengxin International Credit Rating Co.
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|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Sep 5, 2011|
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