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Underwriting of Structured Product Financing


(Underwriting of Structured Product Financing)

 

Introduction

Cash flow created by certain assets of customers in future may be stripped off the balance sheet to act as the first repayment source for bonds issued, so mid- and long-term sources of funding can be ensured for customers through off-balance-sheet financing.

Features

1. Provide customers with mid- and long-term sources of funding;

2. Accelerate corporate turnover;

3. Lower assets liabilities ratio;

4. Upgrade the credit rating, reduce financing costs and enrich investment categories for investors.

Interest Rate

With the yield of products of the corresponding period in the monetary market (or Shibor) as the benchmark rate, the final price of the financing bills takes full consideration of credit spread, liquidity spread and other risk spreads of the issuer.

Target Customers

Legal person of enterprises or financial institutions duly incorporated within the territory of the People's Republic of China with assets that can create regular cash flow in future.

Process

Bank of China shall be the lead underwriter commissioned by customers who appoint professional service institutions to complete structured finance.

Specific business processes include:

1. Stripe off assets and set up asset pooling;

2. Prepare all documents and do preparation works for issue;

3. Issue bonds after the approval by the People's Bank of China and other regulatory authorities;

4. Pay principal and interest according to the agreement;

5. Register credits and debts and disclose information according to the agreement.

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