GTJAI Successfully Assisted Shenzhen Municipal Government and Guangdong Provincial Government

HONG KONG, Sept 23, 2024 - (ACN Newswire) - Guotai Junan International Holdings Limited ('Guotai Junan International', the 'Company' or 'GTJAI', stock code: 1788.HK) has always been deeply involved in the Guangdong Province's overseas bond market, and continuously provides comprehensive and high-quality services for the issuance of overseas bonds by the Shenzhen Municipal Government and Guangdong Provincial Government multiple times. It has participated in all overseas bond issuances by the Shenzhen Municipal Government and Guangdong Provincial Government in 2024, maintaining an in-depth cooperative relationship.

On 8 August 2024, GTJAI, as a joint bookrunner, successfully assisted the Shenzhen Municipal Government in issuing RMB5 billion offshore RMB local government bonds in the Hong Kong Special Administrative Region. The issuance included a 2-year bond of RMB900 million at an interest rate of 2.15%, a 3-year bond of RMB2.7 billion at an interest rate of 2.20%, a 5-year bond of RMB2.4 billion at an interest rate of 2.33%, and a 10-year bond of RMB1 billion at an interest rate of 2.50%. This issuance attracted widespread attention from policy banks, commercial banks, sovereign wealth funds, insurance companies and other investment institutions. On the pricing day, there were 53 accounts placing orders, with a peak order size of RMB48 billion, resulting in an oversubscription ratio of 6.9 times.

On 21 August 2024, GTJAI, as a joint bookrunner, successfully assisted the Guangdong Provincial Government in issuing RMB2.5 billion offshore RMB local government bonds in the Macao Special Administrative Region. This issuance included a 2-year special green bond of RMB1.5 billion and a 3-year special bond of RMB1 billion, with interest rates of 2.15% and 2.20% respectively. The issuance of offshore RMB bonds attracted high attention and active participation from international investors in Macao, Hong Kong, and Southeast Asian countries, with an oversubscription ratio of 2.3 times. The issuance of RMB2.5 billion offshore RMB local government bonds by the Guangdong Provincial Government in Macao on the 25th anniversary of Macao's return to the motherland has significant importance, which continuously strengthened the close ties with the Macau SAR and enhanced Guangdong Province's depth and breadth of participation in the Macao financial market.

On 10 September 2024, GTJAI, as a joint bookrunner, successfully assisted the Guangdong Provincial Government in issuing RMB5 billion offshore RMB local government bonds in the Hong Kong Special Administrative Region. The issuance included a 2-year bond of RMB2 billion, a 3-year bond of RMB1.5 billion, and a 5-year green bond of RMB1.5 billion, with interest rates of 2.08%, 2.13%, and 2.23% respectively. This issuance marks the first time that the Guangdong Provincial Government has issued offshore RMB local government bonds in Hong Kong, which garnered strong interest from top-tier international investors in Hong Kong, the UAE, Switzerland and other prominent markets, with a peak order size of RMB57.18 billion and an oversubscription ratio of 11.4 times.

GTJAI has consistently dedicated itself to supporting the development of the Guangdong-Hong Kong-Macao Greater Bay Area by actively providing cross-border investment and financing services and continuously promoting the coordinated development of green and sustainable finance. In recent years, Guotai Junan has significantly increased its investments in the Guangdong-Hong Kong-Macao Greater Bay Area. In 2023, Guotai Junan signed a comprehensive strategic cooperation agreement with the Guangdong Provincial Government, pledging full support to the leading role of Guangdong's manufacturing industry and actively expanding cross-border financial services. Since 2021, GTJAI has successfully underwritten 32 overseas bond issuances for state-owned enterprises in Guangdong Province, representing 78% of the total number of such issuances and solidifying its position as the leading financial institution with the highest market share in Guangdong's overseas bond market. Looking ahead, GTJAI will deepen its engagement in Guangdong's overseas bond market, and introduce international financial resources for the development of the Guangdong-Hong Kong-Macao Greater Bay Area, and facilitate the progress of offshore RMB internationalization.