Recently, Shanghai Landing Law Offices assisted Ping An Dianchuang International Financial Leasing Co., Ltd. (“Ping An Dianchuang Leasing”) in the successful issuance of its ABS project — Ping An Dianchuang Leasing Chuangyi Phase III Asset-Backed Specific Plan, which was reviewed and approved by the Shanghai Stock Exchange. This marks another remarkable achievement for Landing in providing capital markets financing legal services to large and medium-sized domestic financial leasing companies.

The fundraising scale of this ABS project is approximately RMB 1 billion. Ping An Dianchuang Leasing acted as the originator and deficit payment undertaker, with the underlying assets being hospital medical equipment leasing receivables and related ancillary rights legally owned by the originator. The major senior tranches of the asset-backed securities issued under this project were all rated AAA.

In the field of securitization of financial leasing receivables, projects mainly involving medical equipment as leased assets are relatively rare. The focus lies in substantiating the non-public welfare nature and commercial rationality of such assets, which have also shown rapid growth in scale in recent years.

Shanghai Landing Law Offices was engaged as the special legal counsel for this ABS project, providing a full range of legal services, including substantiating the non-public welfare nature and commercial rationality of the underlying assets, conducting legal due diligence on the underlying assets, drafting transaction documents, and issuing legal opinions.

For this issuance, Landing assigned Attorneys Li Jinchang and Li Ying, among others, to deliver professional and efficient legal services. Landing will continue to uphold its philosophy of “absolute specialization” and remain committed to providing clients with professional legal services across various fields.