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ZhongYin Assisting with Successful Issuance of "SPIC - Inner Mongolia Energy Infrastructure Investment Daban Power Generation Asset-backed Special Plan (quasi-REIT)"

2022.08.15  

Author: Zhong Yin Law Firm    ZhongYin Law Firm

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Recently, with the team led by Dong Wan (a management committee member and senior partner of ZhongYin Law Firm) as exclusive legal counsel, the “SPIC - Inner Mongolia Energy Infrastructure Investment Daban Power Generation Asset-backed Special Plan (quasi-REIT)” has been successfully issued on Shanghai Stock Exchange.


This ABS is a power infrastructure REIT. The asset-backed securities, which have been widely recognized in the market, are issued to raise RMB 3 billion, with a rate being the lowest among those of quasi-REITs in the current domestic market.


The manager of this ABS is China Securities Co., Ltd., the original owner is China KangFu International Leasing CO., LTD., the underlying assets are the ownership of LP1 limited partnership interests in Tianjin Daban Power Technology Investment Partnership (Limited Partnership) entitled to the original owner, and the underlying cash flow mainly consists of the operating income from the target project (namely, the Inner Mongolia Daban Power Plant New Construction Project held by Inner Mongolia Daban Power Generation Co., Ltd. (a subsidiary controlled by SPIC Inner Mongolia Energy Co., Ltd.) and approved under the Reply of the National Development and Reform Commission on the Approval over the Inner Mongolia Daban Power Plant New Construction Project (NDRC Energy [2012] No. 3132)).


Dong Wan and her team represented this transaction. Specifically, they conducted due diligence on the qualifications of the parties to this transaction and the authenticity and legality of the underlying assets and the target project, and assisted in structuring this transaction. They have contributed to the successful obtaining of the approval over this ABS, and thus have been unanimously recognized by the client.





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  • Dong Wan

    dongwan@zhongyinlawyer.com

    -Member of Management Committee

    -Senior partner