- China's smartphone maker Xiaomi Corp XIACF XIACY will raise around $1.2 billion via debt amid a growing domestic regulatory tech crackdown, CNBC reports.
- Xiaomi will issue $800 million worth of bonds due in 2031 with a coupon of 2.875% per year. The proceeds will serve general corporate purposes.
- It will also issue $400 million green bonds with a 4.1% coupon per year to finance eligible projects under its "Green Finance Framework" scheme.
- In March, Xiaomi disclosed its electric car business plans to invest $10 billion over the next ten years.
- The U.S. Xiaomi removed Xiaomi from former President Donald Trump's ban for alleged military ties.
- Price action: XIACY shares traded lower by 3.32% at $16 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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