Zoomlion plans asset-backed securities, credit bond issues

Changsha Zoomlion Heavy Industry Science and Technology Co., Ltd. (HKEX: 1157) announced plans to register for the issuance of asset-backed securities and credit bonds through its wholly-owned subsidiary, Zoomlion Finance and Leasing (China). The proposed asset-backed securities registration aims for a size not exceeding RMB4 billion to be issued in multiple tranches with a maximum term of five years per tranche. Additionally, the company intends to register credit bonds with a size not exceeding RMB1 billion, also to be issued in multiple tranches, with a maximum term of three years per tranche. Zoomlion will provide a full and irrevocable joint and several liability guarantee for the credit bonds. The issuances are subject to shareholder approval at the forthcoming annual general meeting, where authorization will be sought for the board to determine the specifics of the issuances.