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Collective fund trust plan for debt financing instruments
1. Overview

This product is tailored for the issuers of commercial paper and mid-term notes. CMB provides interim funds for the issuers before they register for another bond issue in the inter-bank market. Trust companies issue collective fund trust plans based on trust loans, and CMB sells these plans to its private banking, diamond-grade and corporate customers.

2. Features

Term: 12 months. Can be terminated within 6 months.

Qualifications for the issuer: NAFMII Grade AA or above for commercial paper or Grade AA+ or above for medium term note. In principle, private companies cannot issue these plans. Previously registered commercial paper or medium term note have been issued as planned. As the notice of registration has expired the current issue is subject to re-registration. CMB serves as the lead or co-lead underwriter and as the book runner. Issuance projects are filed with the CMB's HQ Investment Banking Department and financed by credit from CMB.

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 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.