Chinese telecoms vendor Huawei has secured a US$1.6bn five-year revolver in its first syndicated facility to come chiefly from European banks.
It is also the first time that the company has used its European subsidiary, Huawei Technologies Cooperatief,…
Chinese telecoms vendor Huawei has secured a US$1.6bn five-year revolver in its first syndicated facility to come chiefly from European banks.
It is also the first time that the company has used its European subsidiary, Huawei Technologies Cooperatief, as a joint borrower.
Evan Bai, treasury president for the Huawei group, said it symbolised the level of trust and support it has been able to achieve outside of Asia as it continues to expand globally.
“We firmly believe that Huawei will maintain its unceasing efforts, make continuous improvements, achieve stable and favourable performance, and repay all of you for your trust and support,” he said.
The facility, which is subject to two one-year extensions, has Banco Bilbao Vizcaya Argentaria, BNP Paribas, Citigroup, DBS Bank, Deutsche Bank, HSBC, ING, Standard Chartered and RBS as MLAs and bookrunners.
ANZ, Banco de Sabadell, Bank of China, Barclays, Bayerische Landesbank, China Construction Bank, Commerzbank, Erste Group, Intesa Sanpaolo, Lloyds, Mizuho, Sumitomo Mitsui Banking Corporation, UniCredit joined as MLAs.
DNB is listed as lead arranger, while CaixaBank, DZ Bank and Societe Generale are arrangers. Citicorp acted as facility agent.
Huawei said its products now serve more than one third of the world’s population.
The group opened a London office last November to specifically manage the company’s global financial risks, covering liquidity and credit management, foreign exchange risks and compliance rules.
That came shortly after it signed US$1.5bn worth of dual currency debt facilities to mark its largest-ever overseas financing, and the first time it had raised a dollar/euro-denominated syndicated facility.
