On May 5^th 2022, Orient Securities Company Limited, a well-known financial company listed in Shanghai and Hong Kong, successfully issued the first 3-year, 100 million Euros Yulan Bond.

Orient Securities (Hong Kong), Guotai Junan International, ICBC International, ICBC Asia, ICBC Singapore, SPDB Hong Kong Branch, Bank of Communications, and Standard Chartered acted as joint global coordinators, joint lead managers and joint bookkeeping managers for the issuance, and China Minsheng Bank Hong Kong Branch, Bank of China and Natixis are the joint lead managers and joint bookkeeping managers.

Jin Mao Partners was entrusted as the PRC legal advisor for the joint global manager, joint lead manager and joint bookkeeping managers. With the assistance of founding partner Jack Li, partner Keanu Ou and other lawyers, the first Euro-priced Yulan bond was successfully issued.

Yulan bonds are offshore bonds priced in U.S. dollars or Euros or other currencies, issued by Chinese issuers (including offshore entities or tiered institutions under their control). The main difference between Yulan bonds and conventional Chinese offshore bonds is that Shanghai Clearing House serves as the issuer's central securities depository, providing issuers with paperless bond registration services; at the same time, the Euroclear Bank serves as the Central Securities Depository for the investors and provides bond custody and settlement services for global investors. In December 2020, Shanghai Clearing House and the Euroclear Bank jointly launched Yulan Bonds. Bank of China Hong Kong Branch and Guotai Junan Securities Co., Ltd. respectively issued three-year 500 million and 300 million U.S. dollar-priced Yulan bonds in January and November 2021 successfully.

The successful issuance of the Euro-priced Yulan Bond is another vivid example of the innovation and development in financial market for the better service of the real economy.