亚洲最大赌博网站

Guantao Law Firm advises with the approval for the first 2 billion yuan shelf registration of ABS in Yancheng, and Yancheng Port Holding Group’s issuance of 2023 Phase I Super & Short-term Commercial Paper 

On 29 December 2022, Guantao Law Firm advised Jiangsu Yancheng Port Supply Chain Technology Group Co., Ltd. (“Yancheng Port Supply Chain Group”) on issuing “China Fortune-Port Supply Chain Phase 1-10 Asset-backed Securities”. The size of the issuance was below 2 billion yuan and 10 phases. 

This project is the first ABS issued by Yancheng Port Supply Chain Group and in Yancheng city, starting a new era of the securitization of state-owned enterprises in Yancheng. It offered new financing channels for Yancheng Port Group to improve the level, strengths, and resilience of its supply chain service. 

On 6 January 2023, Guantao Law Firm helped Yancheng Port Holding Group Co., Ltd. (“Yancheng Port Group”) issue its 2023 Phase I Super & Short-term Commercial Paper. This issuance amounted to 500 million yuan with a term of 265 days and annual coupon of 4.49%. The corporate credit rating of the issuer, Yancheng Port Group, is AA+. 

Yancheng Port Group was founded on 16 June 2020 as a municipal state-owned enterprise. The issuance is of great significance in terms of expanding the enterprise’s financing channels, reducing financing costs, and optimizing the existing assets of state-owned enterprises. 

Guantao Law Firm advised the client in this project. Attorney WANG Zheng, partner at the firm, was responsible for the project. Attorney CHEN Yun and attorney LI Haidi also worked for this project. Their effective and excellent legal service was highly recognized.