ZTE gets big loan
By Zhu Shenshen |
July 9, 2011, Saturday
|
Print Edition
Print Edition
SHENZHEN-LISTED ZTE Corp, China's biggest telecommunications equipment maker, announced yesterday that it had borrowed US$900 million for three to five years from 10 global banks for global expansion.
Raising the debt in US dollars is an effective way for ZTE to hedge against the appreciation of the yuan, ZTE said in a statement.
The banks in the deal included Bank of China (Hong Kong) Ltd, DBS Bank, the Bank of Tokyo-Mitsubishi, Hang Seng Bank and China Construction Bank's Hong Kong branch.
Raising the debt in US dollars is an effective way for ZTE to hedge against the appreciation of the yuan, ZTE said in a statement.
The banks in the deal included Bank of China (Hong Kong) Ltd, DBS Bank, the Bank of Tokyo-Mitsubishi, Hang Seng Bank and China Construction Bank's Hong Kong branch.
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