Aluminum Corporation of China Chinalco priced its unrated five-year bond on Thursday, upsizing the deal on the back of a massive order book amid an increasingly frenetic hunt for yield.
The Reg S sale comes after the minutes of the US Federal Reserve’s latest meeting showed policymakers were in no rush to raise interest rates.
As a result of the dovish signal from the Fed, strong demand from investors allowed underwriters leading the sale to upsize the deal to $800 million, up from initial guidance of $500 million, according to two people familiar with the deal.
The Beijing-based state-owned company garnered more than $8...
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