Mirattery, the battery asset management company supporting Nio Inc.’s battery-as-a-service (BaaS) business, has launched two green asset-backed securitization products with a combined issuance value of more than 2 billion yuan, expanding its financing activities for battery services and clean technology.
The company said its Phase 2 Green Technology Innovation Asset-Backed Special Plan was established on June 30 on the Shanghai Stock Exchange with a total issuance of 971 million yuan (approximately $143 million).
On the same day, Mirattery also completed the issuance of its third Green Asset-Backed Medium-Term Notes (ABN) of 2026, valued at 1.05 billion yuan.
Financing Costs Reach New Low
Mirattery said the Class A1 senior tranches of both products carried a coupon rate of 1.68%, representing the company’s lowest financing cost to date.
The company said the lower issuance rate reflects investor confidence in its business performance and green technology development.
According to Mirattery, the funds raised will be used to support its battery service operations and investment in green technology innovation.
The company described the simultaneous launch of the two financing products as another milestone in its efforts to expand sustainable financing channels.
Mirattery also said its battery assets under management have now exceeded 53 gigawatt-hours (GWh).
Securitization Strategy Continues
The latest issuances follow a series of financing transactions completed by the company in recent months.
Earlier in June, Mirattery issued another green asset-backed security and obtained a 3 billion yuan shelf registration quota from the Shenzhen Stock Exchange.
In late April, the company completed the issuance of a 1.06 billion yuan green asset-backed security and a separate green asset-backed medium-term note valued at 1 billion yuan.
Mirattery said it plans to continue using financing tools such as asset securitization and inter-institutional real estate investment trusts (REITs) to support the growth of its battery management business while working with investment institutions to further optimize its capital structure.
Founded in 2020, Mirattery manages the battery assets used in Nio’s battery-as-a-service business. Its major shareholders include Nio and battery manufacturer CATL.
