Recently, JIC Leasing has successfully issued its first asset-backed medium-term note (ABN) in 2019. RMB1.06 billion worth of ABN is issued with a weighted average interest rate of 4.52%, while the preferred Class A note has an issuance interest rate of 4.45%, which is lower than the latest average interest rate of its competitors. The subscription ratio of the product is over three times higher than the overall subscription ratio, proving its extensive market recognition.

The successful issuance of the ABN will effectively lower financing costs, revitalise the inventory of leased assets and diversify the financing instruments. It also lays a solid foundation for the enhancement of asset operational efficiency and the continuous development of leasing operations, while providing the Company with powerful fund support to better serve the real economy.