News Column

Xiaomi Tech to Borrow USD1bn Bullet Loans

July 16, 2014

HONG KONG, July 16, SinoCast -- Foreign media said that mobile phone maker Beijing Xiaomi Tech has entrusted three banks for three-year loans worth USD 1 billion. Earlier one-year loans worth USD 200 million started in April have been canceled. Borrower is Xiaomi Hong Kong and financing will be used for general purpose or support mainland operation by parent.

Deutsche Bank (NYSE: DB), JPMorgan Chase and Morgan Stanley are responsible for leading the USD 1 billion bullet loans, including term loans and revolving credit loans.

A person in the know revealed that meeting with potential underwriters will be held on Wednesday and Thursday in Hong Kong.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Sinocast Computers & Electronics Beat (China)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters