Translator：Jiang Wenyu

On November 3, 2021, after Shanghai Landing Law Offices assisted Guojun Capital Management - AVIC Leasing 2021 Phase II Asset Support Special Plan in obtaining the letter of no objection issued by Shanghai Stock Exchange with "zero feedback", the issuance of the special plan was officially successful.

The special plan, with AVIC International Leasing Co., Ltd. acting as the original equity holder and the shortfall payment obligor, is based on the financial lease claims that the original equity holder enjoys against the lessee according to the financial lease contract, as well as its relevant subordinate rights and interests and other rights.

The issuance scale of the special plan was RMB2.492 billion, of which the issuance scale of the senior asset-backed securities was RMB2.367 billion. Each tranche of the senior asset-backed securities was rated AAA, and the issuance coupon interest rate achieved a good result due to the enthusiastic subscription by investors in the capital market!

Shanghai Landing Law Offices was appointed as the special legal advisor of the special program, providing a full set of legal services including demonstrating the transaction structure of the project, conducting legal due diligence, verifying the underlying intellectual property, drafting and revising the ABS transaction documents, and issuing legal opinions.

The project was led by senior partner Liu Zhaofu and partner Li Jinchang, with the participation of Zhang Zhenyu and Huang Xiangxiang, who formed a team to provide professional and efficient legal services throughout the project.