Xiaomi waiting on lenders’ consent for deal repricing

Xiaomi230px
By Pan Yue
06 Sep 2018

Chinese technology giant Xiaomi Corp, which recently floated in a landmark IPO in Hong Kong, is seeking lenders’ approval to slash the price on a $1bn loan closed last year.

Xiaomi, which makes everything from smartphones to consumer goods, plans to reduce the margin on the three year borrowing by 60bp, from 215bp to 155bp over dollar Libor, according to a banker close to the situation. Other terms of the loan remain unchanged, he added.

Banks will receive an ...

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