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.

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

Most innovative bank for securitization 2020

Citic Securities

Citic Securities has an enviable position in China’s ABS market: it boasts a structuring team with the ability to innovate and a large enough client base to test out those new ideas. The firm has notched up several landmark deals, each opening new ground for others to follow.

In March, the securities house reopened a domestic REIT for the first time. When the deal, Cainiao Zhonglian Citics China Smart Logistics Network REITs, was launched, it included an additional offering mechanism. That allows new injections of assets and funds into the same securitization product, an important breakthrough in moving China’s long-existing quasi-REITs market closer to international standards.

The additional offering mechanism, although not difficult to understand for international investors, was a new concept for both Chinese regulators and investors. Citic Securities had to do a substantial amount of work to familiarize investors and regulators with the product, eventually closing a Rmb885 million ($136 million) deal.

Citic Securities was also a major force behind China’s first interbank non-performing loan (NPL) ABS to be enhanced by a Credit Risk Mitigation Warrant (CRMW), a credit enhancement tool introduced by the central bank in October 2018.

The

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