Press Release

JPMFC acted as the sole lead underwriter on the RMB 800 million corporate bond offering for First Capital Securities Co., Ltd.

On 14th December 2016, J.P. Morgan First Capital (”JPMFC”) acted as the sole lead underwriter and book runner for the RMB 800 million Corporate Bond offering for First Capital Securities  (”the Issuer”). The bond is going to be listed on the Shenzhen Stock Exchange(“SZSE”).

The time interval between 16Yichuang02 and 16Yichuang03 is extremely short. The deal team highly coordinated the issuer and relevant intermediary agencies within limited time, completed the material preparation and communication with the SZSE in order, to guarantee the successful issuance of this bond. The team’s professional execution and communication capability was highly acknowledged by the client.

Entering December, the market yields kept increasing greatly as a result of both tight liquidity and negative market sentiment triggered by a sizable default by a security house. Despite of this, the DCM team successfully priced the deal at a full size, which is considered very remarkable by the market players. The coupon rate for tranche A was priced at 4.25%. The team received high recognition from the Issuer for their smooth collaboration and effective execution. This deal has again demonstrated JPMFC’s remarkable distribution ability and wide coverage scope of investors.