Mirattery Green Battery ABN Guaranty Subproject
On April 14, 2022, "Mirattery Co., Ltd. 2022 Phase I Green Asset-Backed Notes" (ABN), which was guaranteed and enhanced by I&G, was successfully issued in the inter-bank market. As the first green battery ABN in China, the income rights of power battery rental service fee held by Mirattery is the underlying assets of the product. The funds raised are used to support Mirattery to purchase new power batteries and carry out battery rental services. The total issue size is CNY 400 million and the interest rate is 3.12% with I&G’s credit enhancement, which effectively reduced the financing cost and highly recognized by investors. The successful issuance of Mirattery ABN will provide an important reference for similar companies to expand more financing channels, and lay a solid foundation for their long-term development in green travel.