A Nio battery swap station on display at the Beijing Auto Show in April 2026. Credit: CnEVPost
- This is the latest move in a series of recent asset securitization efforts by Mirattery, whose battery assets under management have exceeded 51 GWh.
- The first tranche has a scale of 1 billion yuan, with its priority A1 tranche coupon rate hitting a record low of 1.72%.
Nio Inc’s (NYSE: NIO) battery asset operator Mirattery has issued a new tranche of green ABS (asset-backed securities), marking new progress in its asset securitization.
The project was issued on the Shenzhen Stock Exchange and received a shelf registration quota of 3 billion yuan ($443 million). This is the exchange’s first shelf-registered green sci-tech power battery ABS, according to a statement on Friday.
The scale of the first issued tranche landed at 1 billion yuan. Among it, the 150 million yuan priority A1 tranche securities have a coupon rate of 1.72%, setting a new record low for the issuance rate of the company’s similar products.
The coupon rates for the priority A2, A3, A4, and A5 tranche securities are 2.00%, 3.80%, 5.00%, and 5.50%, respectively. The project also includes subordinated A and subordinated B tranche securities.
The lower issuance rate highlights the capital market’s high recognition of Mirattery’s business model, and also represents investors’ confidence in its green technology strength, it said.
Shelf registration is a securities issuance model of “one-time registration, 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 batches based on market conditions within the validity period.
Huaneng Guicheng Trust acted as the project manager for this issuance. Everbright Securities acted as the lead coordinator, and served as the sales agency together with CICC and Industrial Securities.
The raised funds will help Mirattery continue to revitalize its battery assets, and will also open up the financing channel for the green asset securitization of power batteries, the company said.
This is the latest move in a series of intensive financing and asset securitization efforts by Mirattery recently.
At the end of April this year, the company just issued green ABS with a total scale of 1.06 billion yuan and green ABN (asset-backed medium-term notes) of 1 billion yuan.
Mirattery is deeply engaged in the full-cycle management and operation of power batteries from service to retirement, promoting the maximization of the battery’s full life-cycle value, it said.
As of now, its battery assets under management have exceeded 51 GWh, serving more than 650,000 users.
Going forward, Mirattery will continue to leverage innovative financial tools and plans to join hands with partners to stimulate the value of green assets with technology finance, the company said.
Founded in 2020, Mirattery is the asset manager of Nio’s BaaS (battery as a service) business. Its major shareholders include Nio and battery giant CATL (HKEX: 3750).
Mirattery brought in two new state-owned enterprise shareholders from Hefei in the new funding, expanding its Series C financing to nearly RMB 2 billion.
($1 = 6.7748 yuan)
