The “China Minsheng-Minghua Property Trust Beneficial Interest Assets-Backed Special Program" (hereinafter referred to as the "China Minsheng-Minghua Property Special Program") recently received a no objection letter from the Shanghai Stock Exchange and was formally established on July 15. This is Shanghai's first non-residential property asset securitized product.
The Minsheng-Minghua Property Special Program, with a period of 3 + 2 years and a scale of 1.05 billion yuan, has been given a AAA credit ranking among priority asset-backed securities by Shanghai Brilliance Credit Rating & Investors Service and Fareast Credit.
The Minsheng-Minghua Property Special Program is the first asset securitization financing carried out by Shanghai Minghua Property Management Co., Ltd. (hereinafter referred to as "Minghua Property"), a subsidiary of China Minsheng Property. The Special Program has developed a double-SPV transaction structure with Minghua Property's quality property contract claims as underlying assets, jointly and severally guaranteed by China Minsheng Property. It has an issue rate significantly lower than similar products over the same period as its high-quality underlying assets, an innovative transaction structure, and credit guarantee measures that have been highly recognized by investors.
China Minsheng Property, a subsidiary of China Minsheng Investment Group, is a leading value-added service provider and resource integrator in China's property management sector. In providing a private housekeeping model guided by in-home elderly services through the use of property management, China Minsheng Property aims to build a unique community-based value-added service platform along with a large economic ecosystem.
by China Minsheng Property in Shanghai, Minghua Property, founded in 1992, has Grade-A national property management qualifications, is a council member of the Shanghai Property Management Industry Association, and a standing council member of the China Property Management Association.
China Minsheng Property has indicated it will further integrate its property company resources through the Minsheng-Minghua Property Special Program and carry out financing for its property companies in the open market through asset securitization, in addition to further acquiring property companies to finally develop a business model in which financing and operations complement each other.