Chinese smartphone maker Xiaomi is set to sign off on a $1bn loan in the next few days, securing funding from 29 banks as it looks to accelerate its overseas expansion
The list of lenders for the three-year loan stretches across continents, with global investment banks including Deutsche Bank and JPMorgan joining Banco do Brasil, Malaysia’s Maybank and ICBC Asia, the offshore arm of China’s largest bank by assets.
Others include Barclays, ANZ, Credit Suisse, ING and Hong Kong-based lenders Wing Lung and Hang Seng Bank.
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