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General

Huawei files for bond issue in China

Thursday 12 September 2019 | 08:43 CET | News

Huawei plans to issue two tranches of bonds worth CNY 3 billion (USD 422 million) each. This will be the first time it goes to the onshore yuan bond market in China, Reuters reports. 

The timing of the issue of three-year medium-term notes has not been set yet, according to the prospectus. Huawei applied for approval to raise as much as CNY 20 billion.

A spokesman for the company said Huawei wanted to tap into the growing Chinese bond market and diversify its financing channels. The funds will be used to replenish working capital and invest in core businesses, Huawei said.

Huawei has four outstanding US dollar bonds worth USD 4.5 billion in total, according to the filing.



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Categories: General
Companies: Huawei
Countries: China / World
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