Get the free version of Marbridge Daily delivered to your inbox

Click here to subscribe

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

Feedback

Please note, all fields are required.
None of your personal information will be shared with third parties.

SendingSending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily Premium

Interested in gaining full access to all newsletter articles and the Marbridge Daily archive? To learn more about premium subscription options, including pricing, please:

Click here

Marbridge Consulting RSS Feed

Marbridge Reports