Press Release

JPMFC acted as the sole lead underwriter on RMB 1 billion enterprise bond offering for Linyi Economic Development Co., Ltd.

RMB 1 billion 7-year Enterprise Bond offering for Linyi Economic Development Co., Ltd was successfully completed on 26th Sep. 2012 and will be listed in the inter-bank market. The offering yield is 8.26% (AA-/AA- rated, 20% repayment of principal at the end of 3th, 4th, 5th, 6th and 7th year respectively). J.P. Morgan First Capital (“JPMFC”) acted as the sole lead underwriter in this transaction.

Although the bond market liquidity remained tight at the end of 3rd quarter, JPMFC managed to complete the bond transaction successfully, demonstrating our strong capability in municipal bonds.