Xiaomi to grow international footprint with new USD 1 bln loan

News Wireless Global 28 JUL 2017
Xiaomi to grow international footprint with new USD 1 bln loan
Xiaomi has signed a three-year syndicated loan agreement worth USD 1 billion loan, with the aim of growing of international footprint and developing its offline sales presence, TechCrunch reported. The manufacturer is currently present in over 20 countries. It did not specify which new markets it was targeting but did reference a recent patent deal with Nokia that creates a “strong platform” for global expansion. 

The loan was secured from 18 banks across Europe, the Middle East, India, China, Hong Kong and Taiwan. Deutsche Bank and Morgan Stanley served as joint global coordinator, with Bank of China (Hong Kong), Deutsche Bank, and Wing Lung Bank.

Categories:

Mobile

Companies:

Xiaomi

Regions:

Global

Tags:

Corporate strategy, Financial funding

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