Dentons advises China CITIC Bank on issuance of multiple series of RMBS

Recently, a Dentons Beijing team advised China CITIC Bank on successfully issuing its Huiyi 2019 Series III, IV and V Residential Mortgage-Backed Securities (“Huiyi Series III, IV and V”).

Huiyi Series III, IV and V were all issued through book building and register on the national inter-bank bond market on June 26, 2019. The total issue size of Huiyi Series III, IV and V was RMB 3.29 billion, RMB 3.455 billion and RMB 3.277 billion, respectively. China CITIC Bank was the originator and lender, while CITIC Trust was the issuer and trustee, and China Securities served as the lead underwriter and book runner. The underlying assets for the above-mentioned three series of bonds are China CITIC Bank’s claims on the residential mortgages and the corresponding security interests.

The Dentons team, led by senior partner Guo Qing, assisted by associates Wang Yunsong, Liu Jia and others, provided a full scope legal assistance on the issuance. The team has assisted China CITIC Bank on issuance of five series of RMBS in this year.