Bloomberg News

China’s Chalco Attracts Dah Sing Bank to $300 Million Loan

January 16, 2012

(Updates with loan details from the third paragraph.)

Jan. 13 (Bloomberg) -- Aluminum Corporation of China Ltd.’s $300 million loan received a $30 million commitment from Hong Kong-based Dah Sing Bank Ltd., according to a person familiar with the matter, who asked not to be identified because the details are private.

Australia & New Zealand Banking Group Ltd. has been marketing the loan to banks after funding the majority of the facility, two people familiar with the matter said on Dec. 15.

Mandated arrangers Natixis SA and ANZ Bank had originally agreed to jointly and equally underwrite the borrowing by Chalco, as the alumina producer is known, the people said.

The loan was signed in November with Natixis committing $50 million. Bank of America Corp. joined with a $50 million pledge while ANZ lent $50 million, according to the people.

ANZ also provided $150 million of bridge lending, or short- term funding which is usually replaced by longer-term financing, the people said. Dah Sing’s pledge replaces part of that loan from ANZ, which is looking to get three-year commitments for the entire $150 million, the person said today.

Bank of Communications Co. and Commonwealth Bank of Australia both lent $50 million in place of the bridge loan, and China Merchants Bank Co. committed $10 million, one of the people said on Dec. 23.

--Editors: Beth Thomas, Andrew Monahan

To contact the reporter on this story: Wendy Mock in Hong Kong at

To contact the editor responsible for this story: Shelley Smith at

Steve Ballmer, Power Forward
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