Press Release

China Huadian Capital Holdings Co., Ltd.

2017-07-04

J.P. Morgan First Capital (“JPMFC”) acted as lead underwriter on the RMB 1 billion Corporate Bond Public Offering for China Huadian Capital Holdings Co., Ltd. (“the Issuer”) and successfully completed the offering on June 15, 2017. This is the second tranche of the total RMB 2 billion quota.

The China Huadian Capital Holdings Co., Ltd. is the wholly-owned subsidiary of China Huadian Corporation, which is one of the top five power companies in China. The deal team performed thorough due diligence and comprehensive analysis in the execution process taking consideration into the unique characteristics of the capital holding company.  The team also kept smooth communication with the issuer as well as the other two joint lead underwriters and the deal was unconditionally approved by the regulator within a very short time. The highly effective and professional execution ability gained the client’s high recognition and further strengthened the foundation for potential mutual cooperation in the future.

Despite tight liquidity and weak market sentiment towards the end of second quarter, the DCM team launched the deal by capturing the market window from market rebound. The bond was successfully closed before possible seasonal fluctuations of market liquidity in June, with coupon rate of 4.78%, a record low amongst all 3+2 tenor AAA rated corporate bonds issued recently. This deal again demonstrated JPMFC’s remarkable distribution capability and wide coverage of investors,which were highly recognized by the client.

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