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DeHeng Advised Shenzhen Talents Housing Group on Launching Asset-backed Special Plan for the Leasing of Shenzhen Talents Housing

2018-5-11


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On May 9, the Asset-backed Special Plan for the Leasing of Housing for Shenzhen Talents Housing (“Special Plan”) was approved by the Shenzhen Stock Exchange. The Special Project is the first real estate investment trust (REIT) product for public housing for talent in China. This product adopts a shelf offering model with a total amount of 20 billion yuan, and takes houses held by Shenzhen Talents Housing Group Co., Ltd. in Shenzhen for the lease to the talents in Shenzhen City as the underlying property. The product in the first phase to be issued is expected to reach 3.1 billion yuan, with a period of 19 years. Shenzhen Talents Housing Group provides credit support for the special plan and both priority and intermediate-level asset-backed securities receive AAA ratings. DeHeng provided full legal services for the Special Plan.


Shenzhen Talents Housing Group is a wholly state-owned company that specializes in the investment, construction, operation, and management of housing for talents in Shenzhen. The underlying property of the special plan is the housing leasing for talent that is uniformly allocated by Shenzhen Housing Security Department and managed by Shenzhen Talents Housing Group. The implementation of the special plan is the current achievement for the company to implement the guidelines of the 19th CPC National Congress – “accelerating the establishment of the housing system characterized by multi-entity supply, multi-channel protection, and parallel rent and purchase”. It is also a key innovative measure to implement the Circular on Promoting Securitization of Housing Lease Assets by the China Securities Regulatory Commission and Ministry of Housing and Urban-Rural Development. It will play an important demonstration role in asset securitization and REITs for public rental housing in China.

 

As the legal counsel to Shenzhen Talents Housing Group on the special plan, partners Yu Xiufeng and Liu Zhenguo from the Shenzhen office and their team members provided professional and efficient legal services for the verification of transaction structure of this special plan, review of transaction document, risk control and others; and were deeply involved in the analysis and verification of the core aspects of this special plan.


Relevant Lawyer

  • Zhenguo LIU

    Partner

    Tel:+86 755 8828 6488

    E-mail:liuzg@dehenglaw.com

  • Xiufeng YU

    Partner

    Tel:+86 755 8828 6486

    E-mail:yuxf@dehenglaw.com

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