Jingtian & Gongcheng Represents CITIC Securities on its Special Assets Management Plan
Date:2012-11-01

November 1, 2012, Citic Securities Co., Ltd gained the approval from China Securities Regulatory Commission (CSRC) for the establishment of Happy Valley Theme Park admission certificate special assets management plan (the special plan).

 

The special plan could be briefly summarized as follows: the originators are  the listed company Overseas Chinese Town (OCT) A and its subsidiaries Beijing Century OCT Industrial Co., Ltd. and Shanghai OCT Investment Development Co., Ltd. The underlying asset are the originators' Happy Valley Theme Park admission certificate within a specific period of five years following the date of the establishment of the special plan. The priority beneficiary certificates are OCT 1 - OCT 5 of 5 files and the issuing size is CNY 1.75 billion raised by eligible institutional investors. The secondary beneficiary certificates is CNY 100 million fully subscribed by OCT A. The priority beneficiary certificate and the guarantor company are both rated AAA.

 

Jingtian & Gongcheng acted as the legal counsel for the special plan.

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