Lenders vie for $1b Xiaomi war chest loan

China's Xiaomi set to plant its flag in $1 billion offshore loan debut for potential acquisitions.

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 funds for warchest purposes, said the first source familiar with the matter.

Xiaomi was founded in 2010 by entrepreneur Lei Jun. The privately owned Chinese electronics company is one of China’s biggest electronics companies...

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