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Chalco launches 3B yuan debt offering

Aluminum Corp. of China Ltd., or Chalco, on Nov. 12 launched a debt offering of up to 3 billion yuan as the second phase of its previously announced 10 billion yuan debt offering.

The company will issue three kinds of notes with maturities of three years, five years and 10 years. The interest rate of the debt has yet to be determined.

Haitong Securities Co. Ltd. is the lead underwriter and book runner for the issuance.

As of Nov. 12, US$1 was equivalent to 6.96 Chinese yuan.