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Unlocking “Sleeping IP”: Dongguan’s New Blueprint for Tech Finance

Dongguan launched deal is notable for its nationally first-of-its-kind “dual-bank independent guarantee” credit enhancement structure, which reduced issuance costs while improving risk diversification.

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With the support of Dongguan Securities, Dongguan has successfully closed its third intellectual property–backed securitisation, the “Dongguan Songshan Lake Science City – Rongtong Leasing – Dongguan Securities – China Resources Bank – Dongguan Rural Commercial Bank – Intellectual Property No.1 Asset-Backed Special Plan.”

The transaction provided RMB 42.75 million of targeted funding to four local technology enterprises, addressing financing constraints commonly faced by innovation-driven SMEs with light-asset structures and limited collateral.

The deal is notable for its nationally first-of-its-kind “dual-bank independent guarantee” credit enhancement structure, which reduced issuance costs while improving risk diversification. By transforming “dormant” intellectual property into bankable financial assets, the transaction supports strategic emerging industries such as high-end equipment manufacturing and offers a replicable IP finance model for regional innovation ecosystems.

The issuance highlights the deepening integration of technology finance and inclusive finance, and underscores the growing role of IP-backed ABS in channeling capital to science and innovation hubs at the local level.

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日産「NAROT 2026-B」証券化商品が旺盛な需要を獲得し、スプレッドを圧縮

日産「NAROT 2026-B」証券化商品が旺盛な需要を獲得し、スプレッドを圧縮

日産の自動車ローンABS「NAROT 2026-B」は2026年9月に総額12億9,000万ドル規模で発行され、約50の投資家から約32億ドルの強い需要を集めました。5月の前回発行分と比較して総加重平均スプレッドが8bpsタイトに価格設定されたほか、AAAおよびメザニンクラスの応募倍率はピーク時に約4.55倍に達し、投資家層は資産運用会社が71.52%を占めました。

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