Cases
Hylands assists in the successful issuance of Yillion Bank 2019 First Property Rights Trust
On September 10, 2019, the Yillion Bank 2019 First Property Rights Trust project was successfully issued in the Banking Credit Assets Registration and Circulation Center. Hylands Law Firm provided full-process legal services for Yillion Bank, and the project was jointly undertaken by the team led by the partner and attorney Weiyong CHEN and composed of attorneys Mengqi SHI and Xu ZHANG.
Yillion Bank is the fourth digital bank that can engage in the online credit business in China. The high-quality consumer loan assets of Yillion Bank have received wide attention and recognition in a market environment where assets are scarce. Yillion Bank, as the principal, entrusted its normal class consumer loan assets to Zhongrong International Trust Co. Ltd. to establish the ‘Yillion Bank 2019 First Property Rights Trust Plan’, with an asset size of CNY 1 billion. There were senior and subordinated trust units, among which the senior trust units were rated as AAAsf with an expected yield of 5% and an expected maturity date of May 25, 2020, while the subordinated trust units were rated as NR with the expected maturity date of August 25, 2020.
The Financial Banking Business Team of Hylands Law Firm has been providing all-around legal services to Yillion Bank all year round. On the one hand, it has brought into full play its years of accumulated experience in legal services in financial banking to protect the rapid development of Yillion Bank. On the other hand, it has involved professional attorneys with financial banking background and experience in the development and design of financial products to control the legal and compliance risks for the business development of Yillion Bank at the development end of financial products.
With the rapid development of the Internet financial industry, Hylands will continue to give full play to its professional advantages in the field of financial banking, and provide high-quality and customized legal services to customers in the Internet financial industry. Hylands will help customers in the Internet finance industry to develop their businesses by completely considering their business needs and controlling relevant legal and compliance risks.