ZTE Secures US$10 Billion Deal for Vendor Financing Contracts
Published on: 22nd May 2009
Note -- this news article is more than a year old.
China's ZTE says that it has secured a USD10 billion credit line with the Export Import Bank of China (China Exim Bank). The $10 billion credit line is an additional agreement following the USD15 billion credit line announced in March.
Under the agreement, ZTE and China Exim Bank will join to establish a financing platform to support ZTE and its holding subsidiaries in overseas market activities, including export seller's credit, export buyer's credit, import credit, preferential foreign loans, transferred loans of foreign governments and trade financing, as well as other premium financial services.
ZTE has agreed to treat China Exim Bank as a principal banker and handle loans and relevant businesses through the company.