China Aluminum may issue up to RMB 5 billion 10-year bonds, RMB 2 billion perpetuals

By Susanna Moon

Chicago, Aug. 16 - China Aluminum International Engineering Corp. Ltd. said it plans to issue up to RMB 5 billion debt financing with a maturity of up to 10 years.

The bonds will be sold in a one-off or multiple issue or multi-tranche issue, according to a company press release.

Proceeds will be used to meet the company's business operation needs, adjust its debt structure, supplement working capital or make project investments.

The company also is proposing to issue up to RMB 2 billion offshore perpetual bonds, which will be issued on an one-off or multiple issuance or multi-tranche issuance basis through public offerings or private placements abroad.

Proceeds of the foreign-currency perpetuals will be used to expand the financing channels of the group, to strengthen financing capabilities and to lower the company's financing cost, the release noted.

The company is a Beijing-based technology, engineering service and equipment provider in the nonferrous metals industry.

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