A separate company set up for one deal, so the assets and the debt sit inside it instead of on the parent's books. The parent can then use the asset without owning it.
「特殊目的载体」，简称 SPV
| Move变动 | Where it appeared出现位置 | What it means这句话在说什么 |
|---|---|---|
| — | Amazon seeks to offload $8bn of Nvidia chips to investors 「特殊目的载体」，简称 SPV · 第 1 张术语卡 | The reported Amazon deal moves thousands of Grace Blackwell chips into an SPV, which raises debt from outside investors and leases the chips back to Amazon. 判断要点是「谁来还债」。如果债务由外部投资者承担、亚马逊只付租金，那它就是一笔经营租赁式的表外安排；一旦亚马逊提供担保或承诺回购，风险实质上又回到了亚马逊身上。航空业的飞机租赁、房地产、风电项目融资用的都是同一套结构。 |