Translator：Wang Yichun

Shanghai Landing Law Offices recently played a pivotal role in assisting AVIC International Leasing Co., Ltd. with the successful registration and issuance of its "AVIC International Finance & Leasing Co., Ltd. 2023 Fifth Issue Ultra-Short-Term Financing Bond" using the innovative "Frequent Issuer Program" (FIP) model at the National Association of Financial Market Institutional Investors.

This particular SCP project amassed a capital of 500 million RMB over a 60-day issuance period. Landing, serving as the exclusive legal advisor, rendered comprehensive legal services including project assessment, due diligence, and the formulation of legal opinions.

It's noteworthy that the FIP mode or mechanism, introduced in April 2022 by the National Association of Financial Market Institutional Investors, is a groundbreaking move to streamline the financing process for premier issuers. Its unique approach requires issuers to initially disclose a "basic collection + continued collection" framework. For subsequent issuances within the validity term, only updates or corrections to the continued collection prospectuses are disclosed. In this context, the legal obligations intensify, demanding meticulous verification of the basic collection prospectus and critical examination and adaptation of legal opinions concerning updates in the continued collection prospectus.

For the successful execution of this SCP project, Shanghai Landing deployed a team led by Liu Zhaofu, Li Jinchang, and Xu Xinyuan, providing proficient and effective legal services. Sticking to its ethos of "Specialized Services," Shanghai Landing remains committed to offering a spectrum of professional and innovative legal solutions to its clients.