On December 27 2013, Nantong State-owned Assets Investment Holdings Co., Ltd. received approval (No.:  ABN6) from National Association of Financial Market Institutional Investors (“NAFMII”) for registering asset-backed notes (ABNs) with the association.
The ABNs, RMB2bn worth of which has been registered, will stay valid within two years from the date the approval was issued. They are subject to multiple offerings, with the first offering required to be completed within six months. SPD Bank will act as lead underwriter for the notes.
Senior partners Gu Yingbin and Wang Nian from Dacheng’s Nantong office provided legal counsel for the ABNs project. They were responsible for offering relevant legal advice, conducting due diligence and issuing legal opinions.