XPeng Successfully Completes Debut Issuance of Auto Leasing Asset-backed Securities
XPeng Inc. (“XPeng” or the “Company,” NYSE: XPEV, HKEX: 9868), a leading Chinese smart electric vehicle (“Smart EV”) company, today announced that its subsidiary, Guangzhou Xiaopeng Automotive Financial Leasing Co., Ltd., hassuccessfully concluded the issuance ofRMB775 million ($122 million) debut automobile leasing asset-backed securities (“ABS”). The ABS will be listed on the Shenzhen Stock Exchange in March 2022.
The issuance marks XPeng’s inaugural ABS issuance in its home capital market, further diversifying its direct financing channels. It also spotlights as the first carbon-neutral automobile leasing asset-backed ABS on the Shenzhen Stock Exchange, highlighting bond investors’ recognition of XPeng’s carbon neutrality and ESG (Environmental, Social and Governance) initiatives, as well as its ongoing commitment to sustainability.
The ABS issuance attracted a large number of institutional investors in Mainland China, achieving the lowest coupon rate for auto leasing ABS among China’s emerging automakers. The issued ABS of RMB624 million in the senior A tranche with a debt rating of AAA have a coupon rate of 3.00%,due in 1 year. The issued ABS of RMB31 million in the senior B tranche with a debt rating of AA+ have a coupon rate of 3.50%,due in 1.8 years.
Additionally, the Hang Seng Indexes Company Limited announced on February 18, 2022, that XPeng Inc. (HKEX: 9868) will be included in the Hang Seng TECH Index as a constituent stock, effective March 7, 2022. Earlier in February, XPeng’s Ordinary Shares traded on The Stock Exchange of Hong Kong Limited were included in the Shenzhen and Shanghai-Hong Kong Stock Connect programs, enabling qualified Chinese Mainland investors to have direct access to its shares through the respective stock exchanges in the Mainland.
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