Dentons advises on Eternal Asia's accounts receivables securitization

On October 15, 2018, N-Securities – Eternal Asia Supply Chain Finance No.1 Series I Assets-backed Security (the "Product") obtained a no comment letter for listing from the Shenzhen Stock Exchange. 

N-Securities served as the manager, and the originator was Eternal Asia Supply Chain Co., Ltd., with its accounts receivables as the underlying asset. The product applies a revolving purchasing structure with a total issuing size of no more than RMB 800 million.

A Dentons Qingdao team led by partner Fan Danmei, assisted by associate Lu Na, provided a full scope legal assistance on this deal, including designing and demonstrating deal structure, legal due diligence, legal consultation, drafting and revising transaction documents, and issuing an attorney's opinion letter.