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FINWIRES

Hi Sun Technology Sells 169 Million Yuan Asset-Backed Securities

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Hi Sun Technology (China) (HKG:0818) issued 169 million yuan of asset-backed securities divided into two series, according to a Wednesday Hong Kong bourse filing.

The priority tranche comprises 143 million yuan of 2.6% bonds, while the subordinated tranche comprises 26 million yuan of securities with an unspecified coupon rate, each falling due March 31, 2027.

The priority tranche, issued to qualified institutional investors in China, will be traded on the Shanghai Stock Exchange, with the subordinated tranche issued to Ronghui Zhida Factoring or its designated affiliates.

The firm will use proceeds as general working capital of the fintech services business segment.

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