On March 26th 2018, CICC acted as Global Coordinator, Lead Manager and Bookrunner successfully assisted Car Inc. (699-HK) issue RMB400 million Reg S offshore CNH bond with 6.50% coupon. The transaction marks the Company’s return to the offshore capital markets after 3 years since its debut USD bond offering in 2015, as well as the first Dim-sum bond issued by the Company, realizing financing in new currency with low cost. CICC helped the Company promptly capture the optimal issue window amid volatile market conditions. The deal was announced right after the Fed’s FOMC announcement on 22nd March on the back of moderate meeting statement and stable market sentiment, well received by investors and realized 2.5x of oversubscription. This deal is the second time that CICC assisted the Company to try new financing channel, after the Panda bond issuance in 2017, representing CICC’s capability to provide long-term and qualified service onshore and offshore.

Established in September 2007 with its headquarter in Beijing, China, CAR Inc.is a leading player in China’s car rental industry. By learning from the successful car rental model in mature markets and combining it with the consumption habits of Chinese consumers, CAR Inc. provides short-term rentals, long-term rentals, leasing and other specialized car rental services, as well as supporting services including GPS navigation and road rescue. In September 2014, CAR Inc. completed its red-chip listing in Hong Kong under the stock code of 699.HK. As of the end of 2017, CAR Inc. had an extensive network of 898 directly operated service locations in 117 major cities in all provinces in China, including 373 service stores and 525 car pick-up and return points. Its network was further supplemented by 239 franchised service locations in 189 third and fourth-tier cities. By serving more than one million individual clients and nearly 10,000 corporate clients, CAR Inc. is currently the largest nationwide large-scale chain car rental company in China.

The deal had an intense timeline. With multiple tasks processing at the same time, CICC demonstrated strong project organization ability and capability to coordinate communication and collaboration among various parties, further highlighting CICC’s capabilities as a leading investment bank.