Bloomberg/Qilai Shen

INVESTMENT

Huawei mulls $1.5 billion offshore loan in quick market return

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Funds raised will be used for general corporate purposes and working capital.
MONDAY 02, DECEMBER 2019

Huawei Technologies is seeking to raise a $1.5 billion-equivalent loan, shortly after sealing similar-sized financing in July 2019, reported Bloomberg.

The Chinese smartphone maker is in talks with international and Chinese lenders for the facility, with Huawei Investment & Holding Company providing a letter of comfort.

The provider of networking gear has been at the centre of China’s conflict with the US over trade and key technologies. Yet it has been able to line up funding in the loan market with $3.5 billion raised in less than a year, data compiled by Bloomberg show.

In July 2019, Huawei raised HKD 11.7 billion ($1.49 billion) from five Chinese banks, which marked its first offshore funding in the loan market without the help of international banks. The Shenzhen-based company has also signed a CNY 14 billion onshore loan in December 2018.

The latest round of financing, denominated in Hong Kong dollars, US dollars or Euros, will be borrowed via Huawei Technologies Cooperatief.

 

TAGS: Huawei Technologies US-China trade tension
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