Press Release

FCIB acted as the lead underwriter for First Capital Securities Co., Ltd’s RMB 0.6 billion subordinate bond (2018 Tranche I)

First Capital Investment Banking Co., Ltd (“FCIB”) acted as the lead underwriter for the RMB 0.6 billion subordinate bond (2018 Tranche I) issued by First Capital Securities Co., Ltd. (“the Issuer”) and successfully completed the issuance on July 9, 2018.

With the successful experiences on First Capital Securities Co., Ltd.’s subordinate bond issuance (2016 Tranche I, 2016 Tranche II and 2017 Tranche I) and with strong supports from the Issuer, the deal team helped issuer acquire unconditional approval from Shenzhen Stock Exchange and complete the issuance within a short period of time. The professional execution and communication capability were highly acknowledged by the client.

The DCM team has communicated with sales fully and set a reasonable term structure that meets the needs of market investors. In the case of investors’ low acceptance of subordinated debts of securities companies, the total of RMB 0.6 billion were successfully raised eventually. The deal price was 30bp lower than comparable products coupon rate in the same period. The completion of this issuance provides strong supports for issuer’s capital demand in business development at a lower cost, and the team received high recognition from the Issuer for their smooth collaboration and effective execution.