China’s Weibo Seeks Up to $1.2 Billion in First Syndicated Loan
- Loan proceeds will be used for general business purposes
- Citigroup and Credit Suisse are coordinating the syndication
Weibo Corp. is seeking an up to $1.2 billion syndicated financing, following other Chinese social media platforms in venturing offshore to raise funds.
The investment-grade rated firm is marketing the deal at an initial size of $900 million and has the option to increase by up to $300 million, according to people familiar with the matter.