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Baofeng Group to Issue RMB 300 Mln in Asset-backed Securities

Baofeng Group, 8/16/17

Chinese Internet video company Baofeng Group (300431.SZ) recently announced that it will pledge its membership fees for the next five years as collateral, so that the company can eventually issue up to RMB 300 mln in asset-backed securities with a term length not to exceed 5 years.

The announcement said that in order to make use of the company's high-quality assets, Baofeng Group plans to carry out an "Eastmoney Securities - Baofeng Media Player VIP Membership Fees Trust Benefits Asset-Backed Special Program," according to which it will issue asset-backed securities.

Baofeng Group will pledge Baofeng Media Player VIP membership fee income for the next five years to Beijing-based China Credit Trust as collateral, and will promise the cash revenues from these pledged assets as the main source of repayment for the debt.

The financing program is managed by Eastmoney Securities.

Keywords: financing Internet China Credit Trust 300431.SZ Baofeng Group online video

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