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ZhongYin Assists with Successful Issuance of “Phrase 1 WRF - HFB - SWHY Supply-Chain Finance Asset-backed Security Special Program”

2019.09.27  

Author: Zhong Yin Law Firm   

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On August 26, 2019, with the team led by Li Zheng (the chairman of the management committee and a senior partner of ZhongYin) as legal counsel, the “Phrase 1 WRF - HFB - SWHY Supply-Chain Finance Asset-backed Security Special Program” (short name Special Program) was successfully issued. Li Zheng and Gu Xueqi advised on the issuance of the Special Program.

With Shenzhen Wanrong Factoring Co., Ltd. (short name WRF) as the original owner, the Special Plan is backed by the claim for account receivables and the interests of related collaterals transferred by the supply-chain creditors of CHINA CONSTRUCTION SEVENTH ENGINEERING DIVISION CORP. LTD (short name CCSED) to the original owner due to a petition for factoring. The Special Plan is a shelf offering totaling RMB 3 billion proposed to be issued in 8 tranches. This phrase 1 tranche is issued to raise 335 million yuan, including 334 million yuan senior notes, with a rating of AAA.

In this project, the team of ZhongYin was mainly responsible for verifying the qualifications of the issuer, conducting a due diligence on the authenticity, legality and integrity of the underlying assets, demonstrating the feasibility of the transaction structure from a legal perspective, and so on. In addition, the team of ZhongYin answered the questions from the investors and other relevant parties to the Special Plan. With professional and efficient service, the team of ZhongYin facilitated the successful issuance of the Special Plan and was highly praised by the client and other partners.


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Relevant lawyers

  • Li Zheng

    lizheng@zhongyinlawyer.com

    -Chairman of the general administration committee

    -Senior partner