(Yicai Global) July 28 -- Xiaomi Hong Kong, a wholly-owned subsidiary of leading Chinese internet company Xiaomi Corp., signed a three-year USD1 billion syndicated loan agreement to help it go global and develop new retail business today, Sina Technology quoted the parent company as saying.
Deutsche Bank AG [ETR:DBK] and Morgan Stanley [NYSE:MS] are the joint coordinators for the loan, and Bank of China (Hong Kong) Ltd., Deutsche Bank AG [FWB:DBK] and Wing Lung Bank Ltd. are the lead banks and bookrunners. Some 18 banks across Europe, the Middle East, India, mainland China, Hong Kong and Taiwan participated in the loan.
"New retail and globalization are top priorities for the company this year," said Lei Jun, founder, chairman and chief executive of Xiaomi.
This deal follows a USD1 billion syndicated loan to Xiaomi Hong Kong in 2014. Xiaomi's smartphones are available in more than 40 countries and regions.