Chinese equipment maker ZTE has entered a US$20bn financing agreement with China Development Bank (CDB) to fund its overseas projects.
Over the next five years, CDB will offer ZTE US$20bn in credit facilities and for “the funding requirements of…
Chinese equipment maker ZTE has entered a US$20bn financing agreement with China Development Bank (CDB) to fund its overseas projects.
Over the next five years, CDB will offer ZTE US$20bn in credit facilities and for “the funding requirements of overseas customers in the purchase of [ZTE]’s equipment and related technical services,” said the Chinese manufacturer in a statement.
ZTE said the credit facilities would be used for mid-to-long term loans, short-term loans, debenture financing, factored financing, supply chain financing and trade financing.
This financing would then be deployed for industrial investments, overseas investment cooperation, investment funds and joint venture funds.
Specific financing facilities arranged as part of the US$20bn agreement would have to be signed off separately, the statement added.
