Seven Stars Cloud Group signs $24B deal with National Transportation Capacity Co
Seven Stars Cloud Group announced a ground-breaking, three-year, exclusive $24B deal with National Transportation Capacity Co to issue fixed income lease financing-based products, through a global strategic alliance network which operates in a regulatory compliant manner, for large-scale electric bus upgrades, as part of the Chinese government's regulations for all buses to be replaced with electric buses by 2021. The market size for the mandatory replacements and upgrades to achieve fully-electric bus operations in China is estimated at approximately $145B. NTS is the largest full-service operator for electric buses, with sales, lease financing, a charging station network, and real-time data services including media, payments, maps, and facial recognition. Under the terms of the deal, SSC, through its global strategic alliance network, will provide two distinct financing campaigns, one in China and the second across global markets. For the China-based financing, SSC will conduct financing activities through the sale of fixed income products to raise approximately $8.75B over three years. For the global markets financing activities, SSC will exclusively provide both fixed income and asset digitization products to raise $15B over three years.