Dacheng Attorneys Advise on Debt Financing for Indemnificatory Apartments Construction Projects

A debt investment program, for which Pacific Assets Management Co., Ltd., a subsidiary of China Pacific Insurance (Group) Co., Ltd., acts as trustee and China Development Bank as guarantor and independent supervisor, aims to finance Tianjin’s public rental housing construction during the 12th five-year period with RMB10bn of insurance funds investment at a maturity of 10 years. So far, the first round of RMB5bn has already been raised and put into use. The program in question, a useful, innovative exploration of issuance funds on investing in the indemnificatory apartment construction sector, is the largest in terms of amounts involved. It will produce a profound impact and excite similar investments from the insurance industry.
 
A Dacheng project team led by senior partner Duan Aiqun and supported by partners Liu Bin, Qing Zhengke and Yan Lin at the capital market practice provided all-round legal service for the program. Their work included due diligence investigation, business negotiation, deal structure design, transaction process arrangement, drafting legal documents and producing legal opinion letters, as well as assisting parties involved to report to and file with government agencies. Their professional service gained recognition and commendation from relevant parties, government regulatory agencies included.