Press Release

JPMFC acted as a Joint Lead Manager with CICC, China Merchants Securities, UBSS and BNP Paribas on RMB 11.7 billion subordinated bond offering for China Merchants Bank Co., Ltd.

RMB 11.7 billion Subordinated Bond offering for China Merchants Bank Co., Ltd. was launched on 24th Dec. 2012, priced on 27th Dec. and successfully completed on 28th Dec. 2012. The offering yield is 5.20% (AAA/AA+-rated, 15-year tenor with the issuer’s redemption right if approved by the regulatory authorities at the end of 10th year). JPMFC acted as a Joint Lead Manager with CICC, China Merchants Securities, UBSS and BNP Paribas.

As one of the last batch of the old-fashioned subordinated bonds before the new regulation on banks’ capital base and subordinated bonds is to be implemented in 2013, this offering is JPMFC’s largest bond deal in size since JPMFC was founded and demonstrates JPMFC’s execution capabilities in big projects.