December 25 witnessed the successful issuance of Fehorizon Leasing’s 2024 Phase 1 Directed Asset-Backed Notes (Zhai Quan Tong) with the leasing assets of micro, small and medium-sized enterprises as the basic assets in the China Interbank Bond Market for global investors. The issuance scale is 2.557 billion yuan, including 2.176 billion yuan of Class A1 senior notes that account for 85.11%, and a rating of AAAsf is granted by S&P Global Ratings, one of the world’s three major rating agencies, setting a new domestic record for the securitization of leasing assets of MSMEs. With the introduction of “Zhai Quan Tong” and the AAA international rating, Fehorizon leads innovation with international asset securitization, to bring incremental fund to China’s micro, small and medium-sized inclusive enterprise ecosystem and promote the high-quality development of micro, small and medium-sized real economy.

The issuance of these asset-backed notes involves 1,583 pooled assets and 1,559 lessees. With principal balance per transaction averaging 1.6151 million yuan and maximum principal balance per transaction taking up 0.29%, the pooled assets are districted in hundreds of prefecture-level cities throughout 24 provinces (or municipalities) and nearly a hundred sub-industries under 69 national standard industry categories, conforming to the characteristics of mall amount and diversification. The pooled leaseholds include handling equipment, packaging equipment, electrical mechanical equipment, electronic industry equipment, electronic components, other machineries, special-purpose equipment, etc., which can help industrial lessees with industrial upgrade measures such as establishment of new production lines, technical transformation & renewal and coprocessing of solid wastes, prompt enterprises to renewal equipment and upgrade technology, and boost the sustainable development of micro, small and medium-sized businesses.

Micro, small and medium-sized private enterprises are the “blood capillaries” and “nerve endings” of real economy. Over the years, with the launching of inclusive finance business for MSMEs, Fehorizon has continued to strengthen its support for financial leasing, provide standardize as well as differentiated innovation services, and solve various fund demands for procuring equipment, investing in R&D and supplementing working capital, continuously stimulating the innovation vitality and development motivation of MSMEs. In the future, firmly upholding the philosophy of “finance for the people” and striving to make significant efforts in inclusive finance—one of the Five Great Articles on Finance, Fehorizon will actively expand the connotations of inclusive finance services, improve service quality and efficiency, provide “heart-warming” services for more micro, small and medium-sized enterprises, and contribute to the flourishing of enterprises.