Lionbridge Loan

completed

The proposed project is to provide a three year up to US$20 million USD loan to Lionbridge Financial Leasing (China) Co., Ltd. (the “Company”, “Lionbridge”), a MOFCOM licensed financial leasing company, to support its long term funding to extend affordable financial services to the underserved MSMEs in China. Established in 2012, Lionbridge is led by a group of leasing experts with extensive industry experience, and provides direct leasing, sale-lease-back, and extended operational services to SMEs, micro-enterprises and individuals in four major sectors including truck leasing, medical devices, agriculture equipment, and manufacturing equipment. By the end of 2015, the outstanding leasing receivables of Lionbridge reached RMB5.5 billion (US$840 million equivalent), among which 38% was truck/logistic leasing, and 34% was medical device leasing. According to the management account of the financial statement as of end 2015, the total asset of Lionbridge was RMB6.15 billion, and the total equity was RMB1.59 million. In 2015, the Company generated RMB88.6 net profit, translating to ROAA and ROAE of 1.8% and 6.5% respectively.