Mirattery issued two new asset-backed securities on June 30, with a total value of 2.021 billion yuan. Credit: Mirattery
- Mirattery issued two new asset-backed securitization products with a combined size of 2.021 billion yuan.
- Mirattery’s battery assets under management has exceeded 53 GWh to date.
Mirattery, the battery asset operator of Nio Inc (NYSE: NIO), launched two green asset-backed securitization products, marking another step forward in its securitization efforts.
Mirattery’s Phase 2 Green Technology Innovation Asset-Backed Special Plan was established on June 30 at the Shanghai Stock Exchange, with a total issuance size of 971 million yuan ($143 million), according to a statement on Tuesday.
On the same day, Mirattery’s third green directed ABN (Asset Backed Medium-term Notes) of 2026 was also established, with a total issuance size of 1.05 billion yuan.
The class A1 senior tranches of both products carried a coupon rate of 1.68%, hitting a new low, Mirattery said.
The lower issuance rate reflects the capital market’s recognition of Mirattery’s business development and green technology innovation strength, it said.
The proceeds will be used for areas including Mirattery’s battery services and green technology innovation, the company said.
The simultaneous establishment of the two products marks another important milestone in the company’s green technology and innovation financing efforts, Mirattery said.
Mirattery’s battery assets under management has exceeded 53 GWh to date, it said.
This is the latest move in a recent string of intensive financing and securitization efforts by Mirattery.
Earlier this month, the company issued a green ABS and secured a shelf registration quota of 3 billion yuan at the Shenzhen Stock Exchange.
Before that, in late April, Mirattery issued a green ABS with a total size of 1.06 billion yuan and a green ABN of 1 billion yuan.
Mirattery said it will continue to leverage innovative approaches such as securitization and inter-institutional REITs to advance its battery management business.
It also plans to work with investment institutions to optimize the company’s capital structure.
Founded in 2020, Mirattery is the asset manager for Nio’s BaaS (battery as a service) business. Its major shareholders include Nio as well as battery giant CATL (HKEX: 3750).
This is the latest move in a series of recent asset securitization efforts by Mirattery, whose battery assets under management have exceeded 51 GWh.
($1 = 6.7942 yuan)
