Dentons China Advised CITIC Bank's on Its Successful Issuance of Personal Housing Mortgage Asset-Backed Securities

Dentons Beijing office advised CITIC Bank Co., Ltd. (hereinafter referred to as “CITIC Bank”) on its successful issuance of the sixth term of 2019 Huiyi Personal Housing Mortgage Asset-Backed Securities (hereinafter referred to as “Huiyi term 6”) and the seventh term of 2019 Huiyi Personal Housing Mortgage Asset-Backed Securities (hereinafter referred to as “Huiyi term 7”).

The Huiyi term 6 and term 7 were issued in the national inter-bank bond market on July 26 and 29, 2019, respectively by means of book building. CITIC Bank was the sponsor and loan provider, CITIC Trust acted as the trustee and issuer, and China Securities acted as the lead underwriter and bookkeeper of the current securities. Among them, the total scale of Huiyi term 6 was RMB 3.29 billion, of which the priority A-grade asset-backed securities issued was RMB 2.86 billion, rated AAAsf, and the secondary asset-backed securities was RMB 430 million, with no rating; The total scale of Huiyi term 7 was RMB 3.311 billion, of which the priority A-grade asset-backed securities issued was RMB 2.91 billion, rated AAAsf, and the secondary asset-backed securities issued was RMB 401 million, with no rating. The aforementioned securities underlying assets are the personal housing mortgage loan rights held by CITIC Bank and corresponding security interests.