On April 22^nd, Dongyuan 2014 Phase 1 credit asset-backed securities were issued successfully in the interbank bond market. Within the first hour after the tender was offered, the securities were oversubscribed by twice. The final interest rate of A-level prime bonds (with AAA rating) was 6%. The interest rate for the B-level bonds (with B+ rating) was 7%. The sub-prime bonds were issued with a premium and the final price was 129 RMB. The interest rates of these bonds were all lower than those of Huayuan 2014 Phase 1 credit asset-based securities which were issued by Huarong Asset Management Corporation. The interest rate of A-1 Huayuan bonds (with AAA rating) was 6.6%. Interest rate for A-2 bonds (with AAA rating) was 6.9%, and for B bonds was 7% (with AAA rating). Thus Dongyuan 2014 was very popular among state-owned banks, shareholding banks, city commercial banks, securities companies, fund companies, and insurance companies. So we can see that our corporation’s asset quality and credibility is well recognized by the interbank bond market.

In 2006, COAMC successfully issued “Dongyuan-2006-1 prime reorganized asset-backed securities”. So COAMC became the only AMC that had issued both non-performing loan-backed securities and normal loan-backed securities. By issuing these securities, COAMC enhanced its reputation and gained experience. It demonstrated that COAMC had been exploring a new path of development that features optimized asset structure, expanded business scope and efficient use of capital investment.