National Association of Financial Market Institutional Investors, Guidelines on Asset-backed Notes of Non-financial Enterprises on the Interbank Bond Market

中国银行间市场交易商协会银行间债券市场非金融企业资产支持票据指引

September 11, 2012 | BY

CLP Temp &

Asset-backed notes issued on the interbank bond market.

Clp Reference: 3700/12.08.03 Promulgated: 2012-08-03 Effective: 2012-08-03

Issued: August 3 2012

Effective: as of date of issuance

Interpreting authority: Secretariat of the National Association of Financial Market Institutional Investors

Applicability: For the purposes of these Guidelines, the term “asset-backed note” means a debt financing instrument issued by a non-financial enterprise (an Enterprise) on the interbank bond market where the cash flow generated by the underlying assets serves as support for repayment and for which it is specified that the repayment of the principal and payment of the interest thereon shall be made within a certain period of time.

The term “underlying assets” means property, property rights or a combination of property and property rights that comply with laws and regulations, the title to which is clear and that can generate a predictable cash flow. Underlying assets may not be encumbered by a security interest, such as a mortgage or pledge, or other rights restrictions (Article 2).

Main contents: An Enterprise may opt to offer asset-backed notes on the interbank market either by way of a public offering or a private placement (Article 4).

clp reference:3700/12.08.03 issued:2012-08-03 effective:2012-08-03

Issued: August 3 2012

Effective: as of date of issuance

Interpreting authority: Secretariat of the National Association of Financial Market Institutional Investors

Applicability: For the purposes of these Guidelines, the term “asset-backed note” means a debt financing instrument issued by a non-financial enterprise (an Enterprise) on the interbank bond market where the cash flow generated by the underlying assets serves as support for repayment and for which it is specified that the repayment of the principal and payment of the interest thereon shall be made within a certain period of time.

The term “underlying assets” means property, property rights or a combination of property and property rights that comply with laws and regulations, the title to which is clear and that can generate a predictable cash flow. Underlying assets may not be encumbered by a security interest, such as a mortgage or pledge, or other rights restrictions (Article 2).

Main contents: An Enterprise may opt to offer asset-backed notes on the interbank market either by way of a public offering or a private placement (Article 4).

clp reference:3700/12.08.03 issued:2012-08-03 effective:2012-08-03

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