Huawei’s Unusual $1.5 Billion Loan Involves Only Chinese Banks
- Company nears its first major financing since U.S. blacklist
- It has become a central player in U.S.-China tensions
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Huawei Technologies Co. plans to raise the equivalent of $1.5 billion from a group of Chinese lenders, people familiar with the matter said, the company’s first major debt financing since U.S. authorities restricted its access to key suppliers in May.
It would also be the first time on record that Huawei has tapped the offshore syndicated loan market without the help of at least one international bank, according to data compiled by Bloomberg. The Shenzhen-based company is close to wrapping up the Hong Kong dollar-denominated loan, though final signoffs are still pending and details could change, the people said.