ZTE Secures US$10 Billion Deal for Vendor Financing Contracts

Published on: 22nd May 2009

China's ZTE says that it has secured a US$10 billion credit line with the Export-Import Bank of China (China Exim Bank). The $10 billion credit line is an additional agreement, following the US$15 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.

 

Tags: [zte]  [export-import bank of china]  [China]