HONG KONG: Huawei Technologies Co is seeking to raise a US$1.5 billion-equivalent loan, shortly after sealing a similar-sized financing in July, according to people familiar with the matter.
The Chinese smartphone maker is in talks with international and Chinese lenders for the facility, with Huawei Investment & Holding Co providing a letter of comfort, said the people who are not authorised to speak publicly and asked not to be identified.Huawei declined to comment when contacted by Bloomberg.
The provider of networking gear has been at the centre of China’s conflict with the US over trade and key technologies. Yet it has been able to line up funding in the loan market with US$3.5 billion raised in less than a year, data compiled by Bloomberg show. In July, Huawei raised HK$11.7 billion from five Chinese banks, which marked its first offshore funding in the loan market without the help of international banks.The latest round of financing, denominated in Hong Kong dollars, US dollars or Euros, will be borrowed via Huawei Technologies Cooperatief Ua, said the people.