Recently, a Dentons team advised Jinmao Property on successfully issuing its first ABS product "China Securities – China Jinmao Property Fee Asset-Backed Security (the "Product").

China Securities severed as the manager, and Jinmao Property was the originator. The total issue size of the product was RMB 1.54 billion. The issuance adopted a senior/subordinate tranche mechanism. The senior tranches accounted for RMB 1.46 billion and gained a credit rating of AAAsf, with issuing rates from 4.88% to 5.50%. 

The Dentons team was led by senior partner Guo Qing, assisted by Wang Yunsong and Liu Jia. They provided a full scope legal assistance on this deal, including designing and demonstrating deal structure, legal due diligence on property fee assets, drafting and revising transaction documents, issuing an attorney's opinion letter and a due diligence report and providing other legal advisory services.