Hi Sun Technology (China) (HKG:0818) unit Ronghui Zhida Factoring has established the initial tranche for its Suixin Cloud Chain-E Credit Supply Chain Financial Asset-backed Special Scheme.
This initial tranche, valued at 335 million yuan, is part of a larger approved scheme with a maximum size of 2 billion yuan. It comprises a 280 million yuan priority tranche rated AAAsf with a 3% coupon rate and a 55 million yuan unrated subordinated tranche, both with an expected maturity date of March 31, 2026.
The priority tranche will be traded on the Shanghai Stock Exchange and was issued to qualified institutional investors, while the subordinated tranche was issued to Ronghui Zhida Factoring or its affiliates, with proceeds intended for the group's fintech services working capital.
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