In November 2019, the "Dongdao Number One 1st JD white IOUs receivables Asset Support Special Plan" undertaken by Llinks was successfully issued in the Shenzhen Stock Exchange.
In this project, the issuing scale of the special plan is 1 billion yuan. The asset-backed securities are classified into priority class A, priority class B, intermediate and secondary, and priority class A and priority class B adopt floating interest rate mechanism, which means the one-year LPR issued by the National Inter-bank Lending Center is used as the benchmark for pricing and bookkeeping in order to determine the nominal interest rate that is under quarterly adjustment during the duration of the special plan.
The special plan is the first floating rate ABS product linked to LPR in the exchange market, which helps ease the risk of volatility of relative return level brought to investors by changes in market interest rate. It is an important attempt to actively innovate interest rate in the asset securitization market in line with the trend of interest rate liberalization.
Llinks provided a wide range of high-quality legal services in the stage of the securities issuing, including but not limited to doing due diligence, designing and negotiating transaction structure, issuing legal opinions, and drafting, negotiating, reviewing, modifying transaction documents, etc.
Llinks has rich business experience in the field of asset securitization, and continuously provides professional legal services for designing, listing and issuing of all kinds of asset securitization projects, its asset securitization business areas covers all securitization subdivision varieties of National Association of Financial Market Institutional Investors and exchange market, including but not limited to, accounts receivable, lease of creditor's rights, the right to charge public utilities, housing balance payment, property management fees, the beneficial right of the trust, right of return on bills, credit assets, CMBS, REITs etc. With professional and efficient services, Llinks has been highly recognized by cooperative partners and other intermediary teams.
