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Lenovo plugs in for $1bn new money borrowing
Chinese smartphone and laptop maker Lenovo Group has approached lenders in the offshore loan market for a $1bn fundraising.
The company has invited banks to join the financing with mandated lead arranger and bookrunner Citi. The US bank is restricting the syndication to Lenovo’s relationship banks — and any exceptions will be made based on the borrower’s preference, said a banker eyeing the transaction.
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