Press Release

JPMFC acted as Co-Lead Manager on RMB 900 million enterprise bond offering for Shanghai Jinshan Urban Construction Investment Co., Ltd.

RMB 900 million 7-year Enterprise Bond offering for Shanghai Jinshan Urban Construction Investment Co., Ltd. (“the Issuer”) was successfully completed on 25 December 2012. It was listed on the inter-bank market on 27 December 2012 and will be listed on Shanghai Stock Exchange later. The offering yield is 6.60% (AA/AA-rated, 20% repayment of principal at the end of 3th, 4th, 5th, 6th and 7th year respectively). J.P. Morgan First Capital (“JPMFC”) and BOC International (“BOCI”) acted as the Co-Lead Managers in this transaction.

This is the 7th enterprise bond deal led by JPMFC this year and the 5th enterprise (corporate) bond deal led by JPMFC in the fourth quarter. Though the liquidity on the bond market was relatively tight as it was approaching the end of the year, the transaction was successfully closed at the offering yield 6.60%, the lowest compared to other AA-rated enterprise bonds issued in the same period and JPMFC’s selling capabilities in bond deals have been proven once again.