ENN Energy to issue RMB 4 bn asset-backed securities

ENN Energy Holdings Limited announced the proposed establishment of the ENN Integrated Energy Phase 1-8 Carbon Neutrality Green Asset-Backed Special Program, following a no-objection letter from the Shenzhen Stock Exchange. The program, with a total issue size not exceeding RMB 4 billion, will involve the issuance of asset-backed securities (ABSs) backed by equity interests in project companies holding distributed photovoltaic power generation and energy storage projects.

The ABSs will be issued in up to 8 tranches. The company expects the first tranche to be approximately RMB 608 million and intends for the relevant ABSs to be listed on the Shenzhen Stock Exchange. China Securities Finance Co., Ltd. and Huatai Securities (Shanghai) Asset Management Co., Ltd. will act as program administrators.

This initiative is designed to further optimize the company's and its subsidiaries' assets and financing structure. The final issue size, duration, and other terms of the ABSs will depend on prevailing market conditions at the time of issuance.