Press Release

JPMFC acted as the left joint lead underwriter on RMB 4 billion financial bond offering for Harbin Bank Co., Ltd.

J.P. Morgan First Capital (“JPMFC”) acted as the left joint lead underwriter for the recent RMB 4 billion 3-year financial bond offering by Harbin Bank Co., Ltd. (“the Issuer”) and successfully completed the offering on May 28th, 2015. Prior to this, the Issuer issued RMB 2 billion financial bond on December 17th, 2014 also led by JPMFC.

For this issuance of the bond, the Issuer required the bond to be issued in mid to late May, when the market liquidity is very tight. In order to accurately price the bond, the DCM team kept in-depth communication with all potential investors, closely monitored the market trends, and launched the bond within a reasonable price range. Right before the offering, JPMFC secured new anchor orders and therefore lowered the price range by 20 bps. The deal was eventually priced at 4.20% which is far lower than the peer issuances, and thus received high recognition from the Issuer.