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Huawei Seeks $ 1 Billion in First Big Funding Test Ban



Huawei Seeks $ 1 Billion in First Big Funding Test Ban

Chinese telecom giant Huawei Technologies Co. is seeking about $ 1 billion from a small group of lenders, its first major funding test after getting hit with U.S. 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 U.S. or Hong Kong dollars, said people familiar with the matter, who asked not to identify private information. The company is targeting maturities of five and seven years, the people said.

Huawei has become a central player in the country's conflicts with the U.S. about trade and key technologies. The Trump administration jolted global investors last week by adding the Shenzhen-based company to blacklist that could potentially be accessed from parts and software from American 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.

come together. If it does, the loan's pricing ̵

1; as well as the identities of the participating banks – could provide further clues on the market's perception of Huawei's financial strength. The company had 37 billion yuan ($ 5.3 billion) or unsecured bank loans as of December, or 2.8 billion yuan due in one year or less, according to its 2018 annual report. It had cash and cash equivalents of about 2.6 times total borrowing.

Huawei didn't immediately reply to a request for comment.

bank. In September, the company raised $ 1.5 billion offshore from a group of 10 mostly international banks.

Related: What Huawei Founder Told the Chinese Media This Week
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