What is the financing mode of China Merchants Bank?

Mortgage-backed securities of commercial real estate ("CMBS" for short) refer to the basic assets packaged by one or more mortgage portfolios of commercial real estate, including office buildings, hotels, conference centers and business service places. And asset-backed securities products are mainly based on the future income of related real estate (such as rent, property fees, business management fees, etc.). ) Through structured design.

As a kind of asset securitization products, CMBS is a kind of securities that integrates commercial real estate mortgage loans into an asset pool, takes the future income of commercial real estate as the source of debt service, and issues it to investors in the form of bonds through the process of asset securitization.

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Compared with other financing methods, CMBS has the advantages of low issue price, strong liquidity, diversified lenders, no recourse to the parent company, releasing the value of commercial real estate while maintaining future growth potential and off-balance sheet financing.

For securities sponsors, CMBS provides sponsors with more effective and lower-cost financing sources by providing financing options for traditional forms of creditor's rights and assets financing, which makes sponsors' financing sources more diversified. At the same time, sponsors can convert relatively illiquid financial assets into liquid and tradable financial assets to supplement the sources of funds for their refinancing activities. In addition, issuers can transfer assets from the balance sheet more easily, which helps sponsors improve various financial ratios.

Baidu encyclopedia -cmbs