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ZhongYin Assists with Successful Issuance of “WRF - CCB Capital Supply Chain Asset-backed Security Special Plan Tranche 1”

2020.08.14  

Author: Zhong Yin Law Firm   

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August 13, 2020, with the assistance and support from the team led by Li Zheng (Secretary of Party Committee and Director of ZhongYin Law Firm) as legal counsels, the “WRF - CCB Capital Supply Chain Asset-backed Security Special Plan Tranche 1” (“Special Plan”) was successfully issued. Li Zheng and Gu Xueqi provided professional legal services for the issuance of this Special Plan.

The Special Plan is backed by the underlying assets consisting of the account receivable claims and their subsidiary security interests transferred by supply-chain creditors of China Construction Seventh Engineering Division Corp. Ltd (“CCSED”) to the original owner, Shenzhen Wanrong Factoring Co., Ltd. (“WRF”), due to a petition for factoring. The Special Plan has a shelf offering totaling RMB 800 million in proposed 2 tranches. The amount of his first tranche is RMB 385 million, with a term of 1 year and 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 legal perspective, and other matters. With professional and efficient services, the team of ZhongYin facilitated the successful issuance of the Special Plan and was highly praised by the client and other partners.


Relevant lawyers

  • Li Zheng

    lizheng@zhongyinlawyer.com

    -Secretary of Party Committee

    -Senior partner