Chinese smartphone company Xiaomi is expected to raise $1 billion through a corporate loan and has seen strong commitments of at least $3 billion from lenders in its debut international fund raising, according to two sources familiar with the matter.
Lenders keen to build a relationship with the young fast-growing cash rich company, which is raising the money as dry powder for acquisitions.
Xiaomi has no onshore borrowings, the company is net cash and they are raising...