China’s Chalieco exercises first call for $350 million 5% perpetuals

By William Gullotti

Buffalo, N.Y., April 17 – China Aluminum International Engineering Corp. Ltd. (Chalieco) will exercise its first par call for its $350 million 5% senior guaranteed perpetual capital securities on May 21, according to a redemption notice on Monday.

The notice indicated that all of the issue will be redeemed at par plus any accrued distribution up to, but excluding, the first call date. Any arrears distribution and any additional distribution amount will be included in the redemption.

Upon completion, the securities will be delisted from the Hong Kong Exchange.

The perpetuals were issued through subsidiary Chalieco Hong Kong Corp. Ltd. on Nov. 21, 2019.

Chalieco is a Beijing-based technology, engineering services and equipment provider in the nonferrous metals industry.

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