July 9 -- Aluminum Corporation of China （601600, 2600.HK） plans to issue one billion yuan worth of five year medium-term notes （MTN） on July 15 through the national inter-bank bond market, reports Securities Times, citing a company announcement.
Industrial and Commercial Bank of China （601398, 1398.HK） and China Merchants Bank （600036, 3968.HK） will act as the co-lead underwriters of the issue.
Half of the funds raised will be used to replenish the company's mid to long term working capital while the remaining half will be used to repay bank loans and swap high-interest bank loans taken previously.
There is no guarantee for this MTN rated AAA by China Cheng Xin International Credit Rating.
Shares of Aluminum Corporation of China fell 0.11 percent to trade at 8.88 yuan at 11:20 today.
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