ALCAN AUSTRALIA SEEKS 100 MLN DLR FACILITY
Alcan Australia Ltd <AL.S> seeks a 100
mln U.S. Dlr, eight year underwritten note issuance facility,
Swiss Bank Corporation International Ltd said as arranger.
    The facility, which allows banks the option to withdraw
after five years with three months' notice, involves the
issuance through a tender panel of notes with maturities up to
six months.
    The maximum yield will be 20 basis points over London
Interbank Offered Rates (LIBOR) and there is a 3/16 pct
underwriting fee, regardless of utilisation. Alcan Australia is
indirectly 70 pct owned by Alcan Aluminium Ltd of Canada.
 REUTER
