The successful issue of Sany's first single account receivable ABS

The afternoon of November 10th, Sany announced that Sany announced in 2016 1 - China Everbright receivable asset-backed special plan "was formally established, the total size of 1 billion 315 million yuan sale, which means that the construction machinery industry in the first list of Exchange listed asset backed securities issuance success.

The securities by the China Construction machinery industry leading enterprises - Sany Limited by Share Ltd as the originator, the subsidiary formed in the business activities of the accounts receivable assets as a basis for banks, brokers, funds and other qualified investors issued and traded on the Shanghai Stock Exchange, the securities issued and implemented the financing mode innovation of construction machinery industry.

Investors subscribed enthusiastically, issuing interest rates set a new market low

The securities include priority A file, B file priority, secondary files, a total of "two layer 3", among them, priority A files and B files for qualified investors preferred offering secondary file from the group to subscribe for 31.

The securities to obtain the favor of the market, various types of qualified investors enthusiastically, in the face of the recent financial tightening, interest rates upward in the background, the securities issued successfully, the priority A file and B file priority stock subscription ratio was 3.96 times and 5.11 times, the coupon rate is respectively 3.60% and 4.50%. The issuance rate of the same type of products is new low in the near future, and the subscription multiple sets a new high of the same type of product.

The force of the financial sector to create a benchmark for securitisation

The securities implemented by the 31 group in the financial sector led, full participation in the transaction structure design and product distribution, preferably into the pool of assets, carefully designed the structure of the transaction, using a structured technique, the excess cash flow coverage and balance of payment commitments improve securities credit rating, and carry out a wide range of inquiry and roadshow, actively expand the various types of qualified investors, the recent low cost of issuance of similar products in the market.

The issuance of securities is not only conducive to Sany to revitalize the stock of assets, accelerate business capital turnover, improve capital efficiency, but also conducive to broaden the financing channels, reduce financing costs, optimize the asset structure, have milepost significance for China's construction machinery industry and the manufacturing industry with asset securitization.

Support 31 transformation and upgrading, leading "engineering machinery +"

In recent years, 31, as the leading enterprise in the engineering machinery industry, has actively adjusted the transformation and upgrading of the development strategy. Docking "The Belt and Road" layout of the global market, the implementation of a full range of international strategy of going out; a strong R & D and manufacturing capabilities established relying on engineering machinery, 31 of the residential industrialization, military equipment, marine equipment, new energy technology and other new business sector is also steadily rising; at the same time through the effective integration of industry and finance conform to the trend of the development of the Internet industry, and to create a professional, upgrade service industry, the Internet technology driven into the production control platform, information management platform and Internet financial platform, to industrial capital as the foundation of financial capital, boost industrial upgrading, the formation of two wheel drive platform and comprehensive financial industry.

The 31 work is the asset service institution of this period. It will rely on the strong economic strength and excellent management ability of the company to provide investors with effective asset management services such as fund collection, account collection and information disclosure during the duration of securities.