- The senior A1 tranche is sized at 195 million yuan with a coupon rate of 1.80%, marking a record low since Mirattery's inception.
- Just hours ago, Mirattery announced the issuance of 1 billion yuan in green ABN.
Nio Inc's battery asset operator Mirattery issued a new tranche of green ABS (asset-backed securities) totaling 1.055 billion yuan ($154 million).
This is China's first shelf-registered green sci-tech power battery ABS, and the project has obtained a shelf registration quota of 5 billion yuan from the Shanghai Stock Exchange, according to a statement on Thursday.
Shelf registration is a securities issuance model that allows for one-time registration and phased issuance.
After the total quota applied for by the issuer is approved, it does not need to be issued all at once, and can be issued in tranches based on market conditions within the validity period.
The shelf registration model will enrich the company's financing channels and enhance its financing capabilities, while also laying a solid foundation for the continuous expansion of its business scale, Mirattery said.
The senior A1 tranche of this issuance is sized at 195 million yuan with a coupon rate of 1.80%, marking a record low for fixed-income products since Mirattery's inception.
The sizes of the senior A2, A3, and senior B tranches are 310 million, 250 million, and 180 million yuan, respectively. The coupon rates for these three senior tranches are 2.20%, 3.80%, and 5.60%, respectively.
All the senior securities received AAA or AA+ ratings. In addition, the project includes a total of 120 million yuan in unrated subordinated A and subordinated B securities.
Caida Securities acted as the plan manager for the issuance and served as a joint sales agency for the project alongside CITIC Securities.
The raised funds will help the company revitalize its battery assets and promote the further development of its battery asset management business, Mirattery said.
Notably, just hours ago, Mirattery announced the issuance of its second tranche of green targeted ABN (Asset Backed Medium-term Notes) for 2026 in the interbank market, with a size of 1 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.
($1 = 6.8383 yuan)
