Recently, Ping An-China Enterprise Real Estate Debt Investment Plan, launched by Ping An Asset Management Co., Ltd. who acted as trustee, completed the issuing process.
A Shanghai-based team composed of partner Qiu Pei, attorney Zhao Zhifeng and legal assistant Bi Yanping advised on the issuing of the investment plan. The team was responsible for conducting due diligence, designing structured finance transactional model and drafting all transactional documents regarding arrangement of funds and investment in projects. Due to its expert and effective problem-solving capabilities, the team won high recognition from the client and was commissioned another three investment projects in real estate and infrastructure.
Debt investment plan is a type of investment product issued by insurance asset management companies and funded by insurance companies according to relevant laws and regulations and subject to registration at the China Insurance Regulatory Commission. The product, featuring long term and low cost of funds, is sold to investment projects of consistent return prospects and well-guaranteed borrowers with sound credit records.
The debt investment plan in question is RMB1.5bn in size with a five-year maturity and 7.9% annual interest rate. It is guaranteed by Shanghai Real Estate (Group) Co., Ltd., the majority shareholder of China Enterprise Co., Ltd.. The fund raised will be used to support construction of Grand Cru Business Center Project 9-3, pay back bank loans and replenish working capital.
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