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Huawei’s $30 Billion China Credit Opens Doors in Brazil, Mexico

When Tele Norte Leste Participacoes SA, Brazil’s biggest land-line company, was shopping for network equipment last year, Huawei Technologies Co.’s offer had an edge: access to China Development Bank’s $30 billion credit line.

A two-year grace period on payments and an interest rate of 2 percentage points over the London interbank offered rate created an unbeatable deal, Tele Norte Chief Financial Officer Alex Zornig, 52, says.