18 March 2016, King & Wood Mallesons (KWM) advised Bosera Capital Management Co., Ltd. (Bosera Capital) on the successful issuance of the asset-backed securities (ABS) project of the Bosera Capital-Zengcheng Country Garden House-Purchasing Receivables Asset-backed Specific Plan on the Shanghai Stock Exchange, with a principal amount of RMB1.584 billion. This project is the second successful exploration and innovation in real estate ABS in China by Bosera Capital and KWM since they joined hands to launch the Bosera Capital-Shimao Skyscrapers Property Fee Receivables Asset-backed Specific Plan — China’s first ABS backed by property fee receivables in August, 2015, and fills up the gap of the ABS products of unsecured house-purchasing receivables in China.

Founded by Bosera Asset Management Co., Ltd., Bosera Capital specializes in assets management for certain clients and other businesses licensed by the China Securities Regulatory Commission (CSRC), oriented towards real estate financing, Bank-Fund cooperation, pledge of stock rights and others.

KWM acted as the legal counsel for Bosera Capital, the manager and promotion agent of the project, advising on all aspects of the ABS product and providing solutions and opinions on relevant legal issues. The King & Wood Mallesons’ legal team was led by partners Roy Zhang, Wu Ye and Eddie Hu.