Press Release

JPMFC acted as the sole lead underwriter on RMB0.50 billion T-2 capital bond for Zhejiang Mintai Commercial Bank Co., Ltd.

2017-09-29

J.P. Morgan First Capital (“JPMFC”) acted as the sole lead underwriter for the RMB 0.50 billion financial bond offering by Zhejiang Mintai Commercial Bank Co., Ltd. (“the Issuer”) and successfully completed the offering on September 20, 2017. This is the second tranche of the total RMB 1 billion quota. The successful issuance again proved JPMFC’s professional execution and communication ability and enhanced JPMFC’s leading position in the financial bond market.

The market yields has been driven up in China bond market in 2017. The DCM team cooperated closely with the issuer and completed this issuance successfully by capturing the best market window. The deal was priced at 5.00%, which accorded with the issuer's expectation. This deal again demonstrated JPMFC’s remarkable distribution capability and wide coverage of investors, which was highly recognized by the client.

The management of JPMFC provided strong and valuable support in the communication with relevant regulators and institutional investors throughout the whole process. The joint efforts and efficient collaboration of colleagues from different departments and the deal team members also ensured the smooth progress and successful closing of the deal. This transaction is another testament of JPMFC’s strong ability in bond pricing and distribution.

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