Zoomlion unit plans ABS and credit bond issuance

Zoomlion Heavy Industry Science and Technology (SZSE:000157) announced its wholly-owned subsidiary, Zoomlion Financial Leasing (China) Co., Ltd., plans to register and issue asset-backed securities (ABS) and credit bonds. The ABS issuance will not exceed CNY4 billion, issued in tranches with a maximum term of 5 years per tranche, secured with rental receivables and guarantees. Credit bond issuance will not exceed CNY1 billion, issued in tranches with a maximum term of 3 years per tranche. Zoomlion will provide a full and irrevocable joint and several guarantee for the credit bonds. The move aims to optimize Zoomlion’s asset structure and diversify funding sources. The plan is subject to shareholder approval. As of the announcement date, Zoomlion's total outstanding guarantees amounted to CNY1,469,570.37 million, representing 25.72% of its latest audited net assets.