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Collective fund trust plan for commercial paper
1. Overview

This product is tailored for the NAFMII Grade A+ or above issuers of commercial paper underwritten by CMB. CMB provides interim funds for issuers between the first and second issue within the valid term of registration. Trust companies issue collective fund trust plans based on trust loans and CMB sells these plans to its private banking and diamond-grade customers.

2. Features

Term: 12 months; can be terminated within 90 days.

Qualifications for the issuer: Grade A+ or above; planning a second issue within the valid term of registration.

Issuance participants: Trust companies serve as the sponsors, trustees and lenders of these collective plans; CMB acts as the seller and custodian; borrowers serve as issuers.

3. Advantages

This product enables issuers to extend the usage period for commercial paper, manage the entire financing process, obtain a reliable source of funding for repayments (i.e. from the fund raised from the second issue), and also helps CMB strengthen its relationships with the issuers.

All the contents stated above are for your reference only. Please consult the local branch of China Merchants Bank for further information. China Merchants Bank reserves the ultimate right of interpretation for the contents in this page.