Huawei Raises Record $2.7 Billion in Chinese Debt Issuance Spree
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The parent of Huawei Technologies Co. is tapping low borrowing costs in China’s credit market to raise a record amount of debt, as trade tensions with the US spur a shift toward local financing.
Huawei Investment & Holding Co. has raised 20 billion yuan ($2.7 billion) via ultra-short-term commercial paper issuance since late March, its biggest onshore year-to-date haul, Bloomberg-compiled data shows. One 246-day note priced at a record low coupon of 1.57% Wednesday night, according to people familiar with the matter. Ultra-short-term commercial paper, or SCP, typically carries a tenor of less than 270 days.