Recently, the asset securitization product "Western Securities – Yishui Themo Power Plant Heating Fee Collection Rights backed Security" has been successfully established and listed on the Shanghai Stock Exchange. The product's issue size is RMB 730 million, including RMB 693 million for the senior tranches. Its senior 01 to 05 tranches were all rated AAA. The product's credit enhancement measures include senior/subordinate structure, commitment to paying differences, external guarantees, excess spread and credit triggering mechanism. With its quality underlying assets, pledged property and comprehensive risk mitigation measures, the product is actively subscribed by investors.

By virtue of their extensive experiences in the field of asset securitization, Dentons Beijing senior partner Liu Haiping, senior counsel Liu Fei, and associates Han Tao, Gao Yimin and Jin Siyuan advised on this transaction.