Chinalco to issue RMB 3 bln of MTNs next Tue
Aluminum Corporation of China (Chinalco), the parent company of Aluminum Corporation of China Ltd (Chalco)<601600><2600>
The fresh capital from the issuance of MTNs will be primarily used for increasing the company's operating capital, paying part of its bank loans and practicing long-term investments, sources said.
According to Chinalco's issuance schedule, the company planned to issue two batches of MTNs, worth a total of RMB 6 billion. In addition to the RMB 3 billion of MTNs, the second batch with a duration of three to five years, will come on the market in the second half of 2008 or in the first half of 2009.
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