News Column

Xiaomi USD1bn, 3-yr Loan Attracted 16 Banks

August 28, 2014

BEIJING, August 28, SinoCast -- Xiaomi Inc. was earlier said to have entrusted Deutsche Bank, JP Morgan Chase and Morgan Stanley to undertake a USD 1 billion three-year loan for it and the latest news showed up to 16 banks hoped to provide such consortium loans for Xiaomi.

If each bank offers USD 150 million for the consortium loan, total loans will reach USD 2.4 billion, far higher than the needs of Xiaomi.

These banks include ANZ, Bank of East Asia, Bank of Taiwan, Bank of Tokyo-Mitsubishi UFJ, Barclays, BNP Paribas, Cathay United Bank, Credit Suisse, China Trust Bank, Goldman Sachs, Hang Seng Bank, ICBC (Asia), ING Bank, Malaysia Bank, Standard Chartered Bank and Wing Lung Bank.

Deutsche Bank, JP Morgan Chase and Morgan Stanley are leaders and bookrunners of the loan and will assume the term loan and subsequent revolving loans.

Xiaomi will obtain the loan via the Hong Kong subsidiary. The capital will be used for general corporate purposes and Xiaomi is likely to put the capital in the Chinese market operation.

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Source: Sinocast Computers & Electronics Beat (China)

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