Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING
Humanoid Robot Startup X Square Nets Big-Name Backers in $143 Million Raise
Chip Designer OmniVision Soars in Hong Kong Debut
U.S. Eases Restrictions on Nvidia H200 Chip Exports to China
LATEST
Alibaba Adds Cloud Unit Executive to Top Leadership Group
U.S. Eases Restrictions on Nvidia H200 Chip Exports to China
Luxshare-Wingtech Deal Unravels Amid Legal Wrangling Over Indian Sites
XPeng Affiliate Aridge Eyes Hong Kong Listing as Flying Cars Near Takeoff
GigaDevice Soars in Hong Kong Debut as AI Demand Lifts Memory Chipmakers
Chip Designer OmniVision Soars in Hong Kong Debut
Humanoid Robot Startup X Square Nets Big-Name Backers in $143 Million Raise
U.S. Grants Targeted Drone Ban Exemptions, Keeps Pressure on China
Chinese AI Startup MiniMax Pops in Hong Kong Debut
China Drone Sales Slump as Police Tighten Grip on Unauthorized Flights
China to Review Meta’s Acquisition of AI Startup Manus
Chinese GPU-Maker Iluvatar CoreX Climbs in Hong Kong Debut With $5.3 Billion Valuation
China’s Zhipu AI Jumps in Hong Kong Debut
Nvidia Resumes H200 Chip Production for Chinese Market on Strong Demand
MiniMax’s Hong Kong IPO Oversubscribed 1,848 Times as AI Frenzy Builds
China’s Telecom Giants Back Smart-Glasses Maker RayNeo in $143 Million Funding Round
Robot-Maker Unitree’s IPO Expected by Mid-2026, Source Says
Xiaomi Targets 550,000 EV Sales in 2026
LandSpace Wins Nod for $1 Billion IPO Amid China’s Space Ambitions
Chinese AI Chipmaker Biren Skyrockets in Hong Kong Trading Debut
Huawei Seeks $1 Billion in First Big Funding Test After U.S. Ban

By Bloomberg / May 25, 2019 12:14 AM / Business & Tech

Photo: VCG

Photo: VCG

Chinese telecom giant Huawei Technologies Co. is seeking about $1 billion from a small group of lenders, its first major funding test after getting hit with U.S. curbs that threaten to cut off access to critical suppliers.

The world’s largest provider of networking gear is seeking an offshore loan in either U.S. or Hong Kong dollars, said people familiar with the matter, who asked not to be identified discussing private information. The company is targeting maturities of five and seven years, the people said.

Huawei has become a central player in the country’s conflicts with the U.S. over trade and key technologies. The Trump administration jolted global investors last week by adding the Shenzhen-based company to a blacklist that could potentially hobble its access to parts and software from American suppliers. Huawei’s dollar-denominated bonds tumbled to three-month lows on the news, and one of Asia’s top-performing debt managers offloaded his holdings.

The company’s talks with lenders are still at an early stage, and there’s no guarantee a deal will come together. If it does, the loan’s pricing — as well as the identities of the participating banks — could provide further clues on the market’s perception of Huawei’s financial strength. The company had 37 billion yuan ($5.3 billion) of unsecured bank loans as of December, of which 2.8 billion yuan were due in one year or less, according to its 2018 annual report. It had cash and cash equivalents of about 2.6 times total borrowing.

Huawei didn’t immediately reply to a request for comment.

Huawei’s latest fundraising attempt comes about four months after it obtained a 14 billion yuan loan from five Chinese banks. In September, the company raised $1.5 billion offshore from a group of 10 mostly international banks.

Related: What Huawei Founder Told the Chinese Media This Week


Share this article
Open WeChat and scan the QR code