Caixin
Jul 21, 2022 05:40 AM
TECH

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

Huawei in 2021 reported its first annual sales decline since 2002.
Huawei in 2021 reported its first annual sales decline since 2002.

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.

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