Postal Savings Bank of China Co., Ltd. (PSBC or the “issuer”) successfully completed issuance of its 2017 Phase 1 Tire-2 Bond on March 24, 2017. CICC acted as Lead Underwriter and Bookrunner.

The total registered size is RMB50.0 Bn, among which RMB20.0 Bn was issued in this phase. The bond has a maturity of 10 years, with the issuer’s conditional call option at the end of the 5th year, and a coupon rate of 4.50% which sets a new record for the lowest Tier-2 bond coupon rate in YTD.

The issuance is the second largest Tier-2 bond issuance in 2017 YTD. CICC assisted the issuer in fully tapping into and effectively guiding investors' demand, successfully completed the Tier-2 bond issuance, and obtained high recognition from the issuer.