Press Release

JPMFC acted as the left joint lead underwriter on RMB 2 billion financial bond offering for Harbin Bank Co., Ltd.

J.P. Morgan First Capital (“JPMFC”) acted as the left joint lead underwriter on the recent RMB 2 billion 3-year financial bond offering by Harbin Bank Co., Ltd. (“the issuer”) and successfully completed the offering on Dec 17th, 2014. This is one of the first batch of special financial bonds issued by China’s commercial banks with proceeds dedicated to bank credit for agriculture, rural areas and farmers.

In order to price the bond successfully, JPMFC kept in-depth communication with potential investors, closely monitored market trends, and captured a favorable market window at the end of December. The deal received 1.7 times subscription, eventually priced the coupon rate at 4.60% which is lower than market average, and thus received high recognition from the issuer.