Press Release

JPMFC acted as a Joint Lead Manager with UBSS and Tebon on RMB 1.2 billion corporate bond offering for Zhaojin Mining Industry Co., Ltd.

RMB 1.2 billion Corporate Bond offering for Zhaojin Mining Industry Co., Ltd. was launched on 14th Nov. 2012, priced on 15th Nov. and successfully completed on 20th Nov. 2012. The offering yield is 4.99% (AA+/AAA-rated, guaranteed by Zhaojin Group) and will be listed on Shanghai Stock Exchange. JPMFC acted as a Joint Lead Manager with UBSS and Tebon Securities.

With the heavy supply of high-rating products and demand saturation from intuitional investors in the 4th quarter this year, there is no yield advantage for bonds with middle-to-high ratings. However, thanks to the joint efforts of JPMFC and the other two Joint Lead Managers, the offering yield of this 5-year corporate bond was priced at 4.99%, 4 bps lower than the benchmark for AAA-rated MTNs with the same tenor and 58 bps lower than that for AA+-rated ones. It is exhibited well that JPMFC can be and is a hard-core team with abundant experiences in book-building, pricing and bond sales.