Chalco to float 3 bln yuan mid-term bills on June 17
(www.chinamining.org)
Updated:
2008-06-12 00:54
Counter:
BEIJING, June 11 - Aluminum Corp of China (Chalco, 2600. HK; 601600.SH) plans to issue 3 billion yuan worth of five-year mid- term bills in the interbank bond market on June 17, Shanghai Securities News reported Wednesday.
It is Chalco¡¯s second batch of mid-term bills issued this year. China Chengxin International rates it at AAA.
The listed company floated 5 billion yuan of such bills on June 4 with a maturity of three years and an annual interest of 5.3 percent. The money will be used to replenish mid-term cash flows and repay bank loans.
Chalco was approved by the National Association of Financial Market Institutional Investors to issue no more than 10 billion yuan mid-term bills by May 20, 2010.
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