Chinalco Group, the parent of Aluminum Corp of China Ltd, said it plans to issue 5 billion yuan in 365-day debt on the interbank bond market on July 3.

In a statement published on the official Chinabond.com website, the company said the yield will be determined via a book building process.

The proceeds will be used to supplement working capital, the company said.

Industrial and Commercial Bank of China will be the main underwriter for the issue.