Xiaomi Gains New $1 Billion Loan to Drive Retail Push

The loan, which was coordinated globally by Deutsche Bank and Morgan Stanley, involved participation from 18 banks in Europe, the Middle East, India, China, Hong Kong and Taiwan.

“The global syndicate of top-tier banks is a strong endorsement of Xiaomi by the international capital markets,” Xiaomi Chief Financial Officer Shou Zi Chew said.

The statement from Xiaomi, which also makes cameras and TVs and was briefly the world’s most valuable startup following its last round of fundraising in 2014, confirms a report from Reuters LPC on Wednesday.

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