“2021 Phase I ABS Issuance Plan Supported by China Securities Cooperation and ZGC Sci-tech Leasing” was Launched
On August 24, “2021 Phase I ABS Issuance Plan Supported by China Securities Cooperation and ZGC Sci-tech Leasing” was launched, planning to raise 516 million yuan in total.
Among them, A1 bonds will raise 320 million yuan, rated as AAA, with expected maturity date on June 30, 2023 and the coupon rate of 4.0%; A2 bonds will raise 60 million yuan, rated as AAA, with expected maturity date on Dec. 31, 2023, and the coupon rate of 4.0%; B bonds will raise 110 million yuan, with AAA rating, maturity date on June 30, 2024, and the coupon rate of 4.0%.
The subscription ratio of A1 bonds was 2.3 and that of A2 bonds 3.6. Both subscription ratio and interest rates have refreshed the record of ZGC Sci-tech Leasing in recent years.
The successful issuance of this ABS with ultra-high subscription ratio and super-low interest rates is the affirmation not only of elevated capital strength but also robust asset quality of ZGC Sci-tech Leasing. Meanwhile, it also further optimizes its assets-and-liability structure, reduces its financing costs and promote its business development.
These asset-backed securities (ABS) are a lease securitization product (shelf registration facility) of private technology and new economy enterprises, with an important demonstration significance in enabling their development and improving their financing efficiency.
Before this plan, ZGC Sci-tech Leasing has successfully issued 5 products of asset securitization, with a total financing of 3.384 billion yuan, which has greatly powered the development of technology and new economy firms.
The bonds are managed by CSC, sold by Guotai Junan Securities, with the Beijing Branch of China Minsheng Bank as their supervisor bank and custodian bank. There are 78 basic asset lease contracts involved in this phase, with 77 lessees in total.
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