Chalco debuts $350m senior hybrid

The Chinese aluminum company sold its first senior perpetual note amid increased market scrutiny towards the sector, with some experts commenting that it priced too aggressively.

Chalco debuts $350m senior hybrid

Aluminum Corporation of China also known as Chalco has issued a $350 million senior perpetual with a callable option in the fifth year amid improved pricing conditions.

But domestic concerns circulating the sector have dampened investor appetite for the corporate hybrid offering the first from a Chinese corporate since May.

“The challenge here was the credit not the structure and people complained that the pricing is on the aggressive side,” said a...

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