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-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

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.

((Comments on this story may be sent to>PDSeptember 5, 2011>JNBANKING AND CREDIT NEWS.PRICEDATENOT APPLICABLE.DAY

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Publication:M2 Banking & Credit News (BCN)
Date:Sep 5, 2011
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