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JunHe Assists Fosun Tourism Group to Issue CMBS


On March 20th 2020, the "Tebon Haitong - Fosun Tourims Group - Atlantis Sanya CMBS Special Plan" (hereinafter referred to as the "Special Plan") with Shanghai Fanyi Tourism Development Co., Ltd., a subsidiary of Fosun Tourism Group, as its original beneficiary, has been established by the manager of the Special Plan for which fund raising has been completed, where proceeds of exceeding RMB 7 billion have been received. The collateral for the CMBS are the properties of Atlantis Sanya hotel and its water park located at Haitang District, Sanya City. The successful launch of the special plan will help Fosun Tourism Group to revitalize its existing assets, improve its financing structure, effectively expand its financing channels, reduce its financing costs, improve its financing efficiency and provide sufficient cash reserves to accelerate its development. As the first single tourist destination CMBS project in China, this project is an innovation and model, providing a new option for the operation mode of tourist destinations.

As a global leader of family leisure and vacation business, Fosun Tourism Group is an important part of the "Happiness" sector, which is one of the three strategic business units of Fosun International - Health, Happiness and Wealth. JunHe has assisted Fosun Tourism Group in listing on the main board of the Stock Exchange of Hong Kong (01992. HK) in 2018. As of December 31st 2019, Fosun Tourism Group had total assets of nearly RMB 37 billion. Fosun Tourism Group advocates the lifestyle of "Everyday is FOLIDAY", and is one of the world's leading comprehensive travel groups focusing on leisure vacations by carrying out the whole industry layout and the integration of global resources in light of the leisure vacation needs of global families.

As the legal counsel of the Special Plan, JunHe participated in the whole process of the transaction and provided comprehensive legal services, including designing transaction structure, legal demonstration, due diligence investigation, drafting, amendment and finalization of all transaction documents, rendering legal opinions.

JunHe team was led by Partner YU, Yongqiang (YY), with the assistance of YI, Fang.

JunHe is the only Chinese law firm to be admitted as a member of Lex Mundi and Multilaw, two international networks of independent law firms. JunHe and selected top law firms in major European and Asian jurisdictions are “best friends.” Through these connections, we provide high quality legal services to clients doing business throughout the world.