Shanghai Pudong Development Bank Co., Ltd. (SPDB, 600000.SH) successfully completed its 2017 Financial Bond issuance on February 22, 2017. CICC acted as Joint Lead Underwriter in this transaction.

A total size of RMB15 billion is offered in this deal, with a maturity term of 3 years and a coupon rate of 4.00% per year. The transaction marks the largest financial bond issuance in 2017YTD, as well as the lowest offering interest among the three phases of financial bonds issued in 2017YTD.

The bond market had experienced an interest rate surge since the bank received the approval for bond issuance. CICC assisted the bank in choosing the optimal market window and launched the deal promptly within the limited issuance period. The transaction received good results with 2.04x oversubscription.