- This marks Mirattery's second issuance of green ABNs in 2026, following another RMB 1 billion issuance in late March.
- The company has issued a cumulative 4 billion yuan of similar products in the interbank market in China to date.
Nio Inc's battery asset operator Mirattery issued a new tranche of green ABN (Asset Backed Medium-term Notes) as it continues to advance its asset securitization efforts.
The total issuance size is 1 billion yuan ($146 million), aimed at replenishing funds for the operation of its battery asset management and related businesses, according to an announcement on Thursday.
This is Mirattery's second green private placement ABN issuance of 2026, following the previous one about a month ago in late March, which also had an issuance size of 1 billion yuan.
According to the offering documents, the senior Class A1 securities of the issuance have a size of 440 million yuan, with a coupon rate of 2.00%.
The senior Class A2, A3, and A4 securities have sizes of 320 million, 100 million, and 40 million yuan, respectively. The rates for these three tranches range from 3.90% to 5.50%.
A lower issuance rate represents lower financing costs. Currently, China's benchmark 1-year LPR (loan prime rate) stands at 3.00%, while the over-5-year LPR is 3.50%.
All the senior securities received an AAAsf rating from China Lianhe Credit Rating.
In addition, the project includes a total of 100 million yuan in unrated subordinated Class A and subordinated Class B securities.
CICC acted as the lead underwriter and bookrunner for this issuance.
The project was actively subscribed by investors, and the issuance rates continued to trend downward, serving as proof of Mirattery broadening its financing channels, it said.
The raised funds will be primarily used for battery asset operations and technological innovation, and will also provide financial support for full-lifecycle battery management services, Mirattery said.
To date, Mirattery's cumulative issuance of similar products in the interbank market has reached 4 billion yuan, it said.
This is the latest move in a series of recent financing and asset securitization efforts by Mirattery. Last month, the company's 501 million yuan hold-type power battery ABS was listed and traded on the Shanghai Stock Exchange.
Prior to this, Mirattery issued the first tranche of its 2026 green ABN totaling 1 billion yuan in late March.
In February this year, the company announced the completion of a 1 billion yuan Series C3 equity financing. This expanded the company's total Series C financing to nearly 2 billion yuan.
Founded in 2020, Mirattery is the asset manager for Nio's BaaS (battery as a service) business. As of now, the total number of users served by the company has exceeded 610,000.
Mirattery will continue to explore diversified and low-cost financing channels in the future, and plans to flexibly utilize green financing tools to revitalize battery assets to improve operational efficiency, it said.
($1 = 6.8383 yuan)
