XPeng Successfully Completes Debut Issuance of Auto Leasing Asset-backed Securities
22 February 2022 - 6:00PM
Business Wire
First carbon-neutral automobile ABS on the
Shenzhen Stock Exchange
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., has successfully concluded the issuance of
RMB775 million ($122 million)
debut automobile leasing asset-backed securities (“ABS”). The ABS
will be listed on the Shenzhen Stock Exchange in March
2022.
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XPENG P7 (Photo: Business Wire)
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.
About XPeng Inc.
XPeng is a leading Chinese smart electric vehicle company that
designs, develops, manufactures, and markets Smart EVs that appeal
to the large and growing base of technology-savvy middle-class
consumers. Its mission is to explore and drive Smart EV
transformation with technology and data, shaping the mobility
experience of the future. In order to optimize its customers’
mobility experience, XPeng develops in-house its full-stack
autonomous driving technology and in-car intelligent operating
system, as well as core vehicle systems including powertrain and
the electrification/electronic architecture. XPeng is headquartered
in Guangzhou, China, with main offices in Beijing, Shanghai,
Silicon Valley, San Diego and Amsterdam. The Company’s Smart EVs
are manufactured at its plant in Zhaoqing, Guangdong province. For
more information, please visit https://en.xiaopeng.com.
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For Investor Enquiries: IR Department XPeng Inc.
Email: ir@xiaopeng.com
Jenny Cai The Piacente Group Tel: +1 212 481 2050 / +86 10 6508
0677 Email: xpeng@tpg-ir.com
For Media Enquiries: Marie Cheung XPeng Inc. Tel: +852 9750 5170
/ +86 1550 7577 546 Email: mariecheung@xiaopeng.com
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