July 3, 2017 / 10:18 AM / 2 months ago

BRIEF-Far East Horizon disposal of underlying assets under the ABN Transaction

July 3 (Reuters) - Far East Horizon Ltd

* IFEL, FETJ and Huaneng Guicheng Trust entered into trust contract

* Pursuant to deal, IFEL and FETJ have conditionally agreed to entrust Huaneng Guicheng Trust with underlying assets

* ABN transaction will accelerate overall turnover of company's assets and increase overall revenue generated

* IFEL, FETJ, Bank Of China, CICC and Huaneng Guicheng Trust entered into underwriting agreement

* Proceeds received from issuance of assets backed notes will provide financial supports to company's business development of new projects

* ‍Group would realise a net gain of approximately RMB1.3 million as a result of issuance of assets backed notes​

* Bank Of China & CICC to arrange for issuance & securitization of different classes of assets backed notes in of face value of RMB3.01 billion Source text for Eikon: [bit.ly/2uBtkAA] Further company coverage:

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