Chalco To Sell CNY1 Bln Five-Year Notes July 15

SHANGHAI (Dow Jones)--Aluminum Corp. of China Ltd. (ACH), or Chalco, said Thursday it plans to sell CNY1 billion ($147.5 million) worth of five-year notes on the interbank market July 15.

The company, China's largest alumina and aluminum producer by capacity, said it will use the proceeds to replenish its working capital and repay bank loans.

Industrial & Commercial Bank of China Ltd. and China Merchants Bank Co. are the main underwriters of the deal, which is the first tranche of Chalco's planned offering of CNY2 billion worth of medium-term notes this year, the company said.

-Wang Ming contributed to this article; Dow Jones Newswires; (86-21) 6120-1200; ming.wang@dowjones.com

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