Xiaomi Raises $1.2B Debt Despite Intensifying Chinese Tech Clampdown

July 8, 2021 1:32 PM | 1 min read | Make a Comment

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.