Press Release

JPMFC Acted as the Sole Lead Underwriter on the CLO Offering for Bank of Chengdu Co., Ltd.

As the sole lead underwriter, J. P. Morgan First Capital (JPMFC) successfully completed the CLO transaction for Bank of Chengdu Co., Ltd. (the Bank) on June 19th, 2015.

In order to successfully price the bond, DCM kept in-depth communication with potential investors, closely monitored the market trend, and captured a favorable market window in mid-June, despite of tight liquidity caused by a batch of IPO placements in the same period. The team lowered the price guidance several times to accommodate both the originator’s and investors’ needs. The deal was priced at mid-low end of the final guidance range with senior-A coupon rate at 3.84%, and senior-B coupon rate at 5.1%, both of which are the lowest among comparable CLO products in the same period.