Millet restarts financing loan is negotiating with several banks

[Global Network reporter Chen Jian] According to recent news from foreign media Reuters, a source said that China's technology company Xiaomi is in talks with several banks, and signed a billion dollars for 2014. Three-year loans were refinanced. The scale of this loan financing is similar to that of 2014, and it is still a three-year loan of US$1 billion.

Millet had signed a three-year loan of US$1 billion in October 2014. It was Xiaomi’s first foray into the use of the loan market. Deutsche Bank, JP Morgan, and Morgan Stanley were the original lead firms and bookkeeping firms, and there were 25 other companies. Bank participation. This time, Deutsche Bank, Morgan Stanley and Wing Lung Bank once again accepted the financing of this loan.

According to publicly available data, the transactions in 2014 were divided into Part A term loans and Part B revolving loans. The maximum total cost of the two parts of the loan was 273 basis points, and the interest rate was an extra 232.5 basis points over the London Interbank Offered Rate (Libor). Millet's total cost for sub-lending is 282.5 basis points.

The financing is still divided into two parts, A and B. Part A is a $500 million term loan, part B is a 250 million dollar revolving credit loan, and green shoe options are up to $250 million. The interest rate is higher than that of the Bank of London. Libor has an extra 215 basis points.

Deutsche Bank held a non-trade road show for Xiaomi earlier this year. On June 1th, Xiaomi will again perform a roadshow in Hong Kong. According to Xiaomi's current progress, this financing will not only be used for self-developed chip research and development, but also should be part of the investment into the expansion of new retail.

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