Hylands Shanghai office assists Taiping Asset in successfully issuing the first shelf-offered supply chain ABS in the insurance industry

The project was based on the actual transactions between the micro, small and medium-sized enterprises upstream and downstream of the supply chain and the core enterprises. After the project was issued, the raised funds will be used to receive the receivables from the upstream suppliers of the subsidiaries of the core enterprise that have provided the products or services. Taiping Assets proposed a shelf offering model to China Insurance Asset Registration and Trading System Co. Ltd. and was approved for registration given the characteristics of the actual financing party being small and dispersed. The transaction structure was the first innovative product in the insurance industry, which will be conducive to solving the problem of financing difficulties for small and medium-sized enterprises and the stable development of small and medium-sized enterprises.

The Shanghai office of Hylands Law Firm was engaged as a special legal adviser for the issuance of ABS to provide legal services such as due diligence and issuance of legal opinions, etc. for the project. The project was undertaken by the legal team of Qiang XU, director of the Shanghai office of Hylands Law Firm. The partner and attorney Lei ZHOU was in charge of the project, and attorneys Yan CHANG and Yujie MENG assisted in completing the project.