ePrime Northbound Subscription Service Facilitates the Cross-border Subscription of FITS Jianpu 2024-3 Small and Micro Business Loan Asset-Backed Securities
24 July 2024
ePrime Northbound Subscription Service facilitated offshore investors’ cross-border subscription of FITS Jianpu 2024-3 Small and Micro Business Loan Asset-Backed Securities on 16 July. The Asset-Backed Securities had a total issuance amount of RMB 11.2 billion The seamless connectivity between ePrime and iDeal (the Bond Issuance, Underwriting and Distribution system of CFETS) allowed offshore investors to successfully complete their online subscriptions, which encompassed order placement, allocations, and the generation of confirmation tickets.
Mr. Zhiming Chen, Head of FICC of CITIC Securities, commented, “CITIC Securities continues to explore the investment demands of offshore investors in onshore fixed income markets. The introduction of ePrime Northbound Subscription Service has bolstered their enthusiasm to participate in primary bond subscriptions in the onshore market. We are delighted to have assisted offshore investors in the subscription of onshore Asset-backed securities products and to fulfill their requirements for high-quality asset allocation.”
Mr. Tony Wang, General Manager of BCCL, commented, "This transaction marks the first cross-border subscription of Asset-backed securities via ePrime Northbound Subscription Service. We are pleased to provide efficient and convenient services for this transaction, offering unique investment opportunities to offshore investors. We look forward to further deepening our cooperation with CITIC Securities in the future, providing support and convenience for offshore investors to participate in the primary market."
In collaboration with CFETS and launched in October 2020, ePrime is an electronic solution for the primary bond market that spans across issuers, underwriters and investors specialized in the China cross-border workflow. It has two components to cater for issuance and subscription applications: ePrime Issuance Service and ePrime Northbound Subscription Service.
ePrime Northbound Subscription Service allows international investors to participate in the Northbound subscription of CIBM new issuances with onshore underwriters through the connectivity between ePrime and iDeal. It supports the cross-border subscription of various types of bonds, such as CGBs, PFBs, green financial bonds, MTNs, CP/SCPs etc, with 65 international investors onboarded.
Please contact us at eprime@chinabondconnect.com / (852) 2327 0398 for enquiries.
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