Davis Polk Advises Aluminum Corporation of China Limited on Its $400 Million 4.875% Senior Bonds Offering

Davis Polk advised Aluminum Corporation of China Limited (“Chalco”) in connection with the $400 million 4.875% senior bonds issued by Chalco Hong Kong Investment Company Limited, a wholly owned BVI subsidiary of Chalco. The bonds have the benefit of a keepwell deed and a deed of equity interest purchase undertaking provided by Chalco, and are unconditionally and irrevocably guaranteed by Chalco Hong Kong Limited, a wholly owned Hong Kong subsidiary of Chalco.

Chalco is a leading enterprise in the non-ferrous metal industry in China and principally engages in alumina refining, primary aluminum smelting and trading of related products. In terms of comprehensive scale, it ranks among the top enterprises in the global aluminum industry. Chalco’s shares are listed on the Main Board of the Hong Kong Stock Exchange (stock code: 2600), the New York Stock Exchange (stock code: ACH) and the Shanghai Stock Exchange (stock code: 601600).

The Davis Polk corporate team included partner Paul Chow, counsel Margie Chan and Terrence R. O'Donnell and associate Kai Sun. The tax team included counsel Alon Gurfinkel and associate Omer Harel. Members of the Davis Polk team are based in the Hong Kong and London offices.