Huawei seeks $1bn in funding, four months after getting $2bn loan from Chinese banks
The world’s largest provider of networking gear is said to be seeking an offshore loan in either US or Hong Kong dollars
Hong Kong — Huawei is seeking about $1bn from a small group of lenders, its first major funding test after getting hit with US curbs that threaten to cut off access to critical suppliers. The world’s largest provider of networking gear is seeking an offshore loan in either US or Hong Kong dollars, said people familiar with the matter, who asked not to be identified discussing private information. The company is targeting maturities of five and seven years, the people said. Huawei, one of China’s biggest national champions, has become a central player in the country’s conflicts with the US over trade and key technologies. The Trump administration jolted global investors last week by adding the Shenzhen-based company to a blacklist that could potentially hobble its access to parts and software from US suppliers. Huawei’s dollar-denominated bonds tumbled to three-month lows on the news and one of Asia’s top-performing debt managers offloaded his holdings.
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