Press Release

JPMFC acts as the sole lead underwriter on RMB 800 million enterprise bond offering for Linyi Investment Development Co., Ltd.

RMB 800 million 6-year Enterprise Bond offering for Linyi Investment Development Co., Ltd was successfully completed on 29th March 2012 and listed on the inter-bank market on 31st March 2012. The offering yield is 8.10% (AA/AA rated, 25% repayment of principal at the end of 3th, 4th, 5th and 6th year respectively, with irrevocable and unconditional joint and several liability for guarantee responsibility in full amount provided by Linyi Economic Development and Investment Company) and J.P. Morgan First Capital (“JPMFC”) acted as the sole lead underwriter on this deal.

The offering yield of 12 Linyi Investment Bond is lower than similarly rated bonds issued at the same period of time. Its successful execution enhances the JPMFC’s strengths in city investment bond deals and helps expand influence on the market.