Press Release

JPMFC acted as the sole lead underwriter of RMB 600 million subordinated bond for First Capital Securities Co., Ltd.

On 8th Jul., 2014, J.P. Morgan First Capital (“JPMFC”), as the sole lead underwriter, launched RMB 600 million subordinated bond offering for First Capital Securities Co., Ltd. (“the Issuer”). The offering was successfully completed on 8th Jul., and the bond has been listed on Shenzhen Stock Exchange since 20th Aug., 2014.

This offering is the second batch issued by First Capital. While the market was not favorable when the offering was launched, it was priced successfully with a fixed coupon rate of 7.0%, which effectively enhanced the capital position of the issuer. JPMFC’s great efforts and excellent performance were highly appreciated by the issuer. This transaction has demonstrated JPMFC’s strong comprehensive capability.

Our controlling shareholder and our senior management paid great attention to this deal and provided strong support in the communication with institutional investors. During the whole process, the efficient collaboration of the team members from different departments has led to the smooth execution progress of the deal and helped to captured a very good market window with low yield.

JPMFC conducted in-depth dialogues with potential investors in advance. The market efforts had made great progress with the effectively organized road show. With the joint efforts from the management and related departments, the offering received oversubscription and market attentions.