With JIC Leasing Co., Ltd as the originator and asset service agency, Shenwan Hongyuan Securities Co., Ltd as the scheme manager and Dacheng as the legal counsel, the first rental credit asset securitization project of JIC Leasing - “JIC Leasing ABS Scheme I” was successfully issued at Shanghai Stock Exchange on August 10, 2015.

The asset securitization service team led by Beijing-based Senior Advisor Wang Lihong provided the project with full-course legal services. Team members include He Yuhua, Lv Xiaxi and Zheng Wenjing. The successful launch of the first rental credit asset securitization project of JIC Leasing represents that more and more financing and leasing enterprises are developing new financing channels by taking advantage of rental credit asset securitization.

The project is designed with the following prominent features: adequate credit enhancement, arrangement credit enhancement measures such as priority/secondary partition and incorporation with deficiency payment by originators, and better assurance for priority products; complete measures for risk separation and slow-release, including the replacement and redemption of base assets, recovered payment transfer mechanism, measures for right improvement, accelerated clear-off mechanism, etc.