The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms & Conditions.

All material subject to strictly enforced copyright laws. © 2020 Euromoney is part of the Euromoney Institutional Investor PLC
China ABS Awards

Best for CMBS 2020

CICC

CICC underwrote six commercial mortgage-backed securities (CMBS) deals with a total value of Rmb16.52 billion ($2.53 billion) during the awards period, representing a market share of 27.67%. In terms of CMBS issuance deal numbers and volumes, the securities house ranked first and second respectively.

CICC has demonstrated a unique ability to identify good-quality commercial assets such as premium office buildings and shopping malls off the beaten track. The bank has proved more daring than its rivals when choosing underlying assets. The firm did not just target properties in China’s tier-one cities – a hierarchical classification usually assigned to cities that are most developed and have the most affluent and sophisticated consumers – but also in tier-two and tier-three cities such as Tianjin, Jinan and Sanya.

One transaction that stood out during the awards period is a Rmb783 million CMBS originated by Tianjin Zhong Bei Wang Asset Management Co. The underlying assets of the trade were the trust beneficiary rights of one of the AEON malls in the city of Tianjin. The transaction was completed in late August.

The transaction is the first CMBS deal to include commercial properties built on state-owned land, an asset that other securities houses traditionally did not dare to touch because of legal concerns.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree