ZTE has secured a US$900 million syndicated term loan from 10 leading international banks. ZTE said that raising the debt in US dollars is an effective way to hedge against the appreciation of RMB.
The banks participating in the loan are:
Bank of China (Hong Kong) Limited
DBS Bank Ltd.
United Overseas Bank Limited
Banco Santander, S.A., Hong Kong Branch
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
Natixis
Hang Seng Bank Limited
Maybank, Hong Kong Branch
China Construction Bank Corporation, Hong Kong Branch
The Bank of Nova Scotiahttp://www.zte.com.cn
- In May 2009, The Export-Import Bank of China (China Exim Bank) granted a US$10 billion credit line to ZTE Corporation. Under the cooperation agreement, ZTE and China Exim Bank joined together to establish a financing platform to support ZTE and its holding subsidiaries in overseas market activities including export seller’s credit, export buyer’s credit, import credit, preferential foreign loans, transferred loans of foreign governments and trade financing, as well as other premium financial services. ZTE agreed to deal with China Exim Bank as a principal banker and handle loans and relevant businesses through China Exim Bank.