Friday, August 23, 2013

Huawei Secures $1.5 Billion Loan

Huawei has secured a US$1.5 billion equivalent 5-year term loan and revolving credit facilities.

The dual-currency vacilities comprise a US$750 million equivalent term loan, and a US$750 million equivalent revolving credit facility, which are available in both USD and EUR with the EUR tranche capped at EUR300 million.

Huawei said the funds will be used for the general corporate purposes of the company and / or to refinance the existing indebtedness of the company.

"Huawei continuously strives to create diverse financing channels to maintain our financial flexibility, and this Facility will boost our efforts to accelerate business development and build on our global presence so that we can continue to create value for our customers around the world," said Ms. Cathy Meng, Chief Financial Officer of Huawei, "This is the largest amount of overseas loan and credit facilities Huawei has raised to date. We are pleased by the strong support received from leading international banks as this highlights the trust and confidence that the financial community has in Huawei’s sustainable growth and globalization strategy."

In July, Huawei reported unaudited revenues of CNY 113.8 billion for the first half of 2013, an increase of 10.8% over the same period in 2012. Huawei expects to generate a net profit margin of 7-8% in 2013.


Post a Comment

See also