China Merchants Bank Company Limited (“CMB, 3968HK / 600036SH”) closed its RMB 11.3 billion subordinated bond offering (“the Bonds”) on April 18th 2014. The Bonds was a 10-year fixed-rate subordinated bond, with a coupon rate of 6.4%, and with conditional call option by the end of the 5th year. The issuer is AAA-rated and the bonds are AA-rated. CICC acted as Lead Underwriter.