Huawei Steps Up Debt Financing With $593 Million Onshore Bond Sale

Huawei Technologies Co. Ltd. is seeking to raise 4 billion yuan ($593 million) from its fourth onshore bond sale this year in a sign that the Chinese telecom giant is increasingly tapping the domestic market for credit.

Sales of the three-year bonds started Wednesday, about three months after the company sold 3 billion yuan of short-term debt. Proceeds will be used to support business development and the implementation of key strategic plans as well as supplement operating capital, Huawei said.