On August 10, “Phase I of CSC-ZGC Sci-tech Leasing Special IP-Assets Supporting Program of 2022” (for specialized and sophisticated IP assets) was successfully issued.

The IP ABS plans to raise 107 million yuan. Among them, A bonds will raise 73 million yuan, rated as AAA, with expected maturity date on June 20, 2023 and a coupon rate of 2.8%; B bonds will raise 28 million yuan, rated as AAA, with expected maturity date on Dec. 20, 2023, and a coupon rate of 3.0%. ZGC Sci-tech Financing Guarantee Co., Ltd. provides the second difference payment commitment for the B bonds.

The comprehensive coupon rate of these bonds is 2.86%, refreshing the record of ZGC Sci-tech Leasing in recent years.

ZGC Sci-tech Leasing is the original owner of these special ABSs, China Securities the program manager and leading sales agency, and Guotai Junan Securities the joint sales agency. Beijing ZGC Sci-tech Financing Guarantee (a member of ZGC Development Group) serves as the credit enhancement agency for these ABSs, and the Beijing Branch of Bank of Shanghai the custodian bank. The IP appraisal agency is Beijing Zhongjinhao Asset Appraisal Co., LTD., and the rating agency Dongfang Jinchen International Credit Appraisal Co., Ltd. Beijing Shengda Law Firm acts as its legal agent and KPMG Huazhen Accounting Firm (special limited partnership) its accounting agent.

This IP assets securitization project has an important demonstration significance in enabling the development of real economy with finance, providing innovative models of IP transformation and operation, helping asset-light sci-tech start-ups solve the problem of “difficult and expensive financing”.