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Xiaomi Raising $1.2B in Pursuit of EV Initiative
Xiaomi is testing the CCP by starting to raise around $1.2 billion via debt issuance just when authorities are cracking down on China’s technology giants. Xiaomi will issue $800 million worth of bonds due in 2031 with a coupon of 2.875% per year. The proceeds will be used for “general corporate purposes,” according to a regulatory filing. The electronics maker will also issue $400 million of so-called green bonds with a 4.1% coupon per year. Green bonds are debt issued to raise money to support environmental projects. Xiaomi said the proceeds will go toward funding eligible projects under its “Green Finance Framework,” an environmental scheme. Xiaomi, the world’s third-largest smartphone maker, is expanding globally and is looking at breaking into new areas like electric vehicles. In March, Xiaomi said it would launch its own electric car business and invest $10 billion over the next 10 years. The money is expected to go toward these initiatives.
Xiaomi is testing the CCP by starting to raise around $1.2 billion via debt issuance just when authorities are cracking down on China’s technology giants. Xiaomi will issue $800 million worth of bonds due in 2031 with a coupon of 2.875% per year. The proceeds will be used for “general corporate purposes,” according to a regulatory filing. The electronics maker will also issue $400 million of so-called green bonds with a 4.1% coupon per year. Green bonds are debt issued to raise money to support environmental projects. Xiaomi said the proceeds will go toward funding eligible projects under its “Green Finance Framework,” an environmental scheme. Xiaomi, the world’s third-largest smartphone maker, is expanding globally and is looking at breaking into new areas like electric vehicles. In March, Xiaomi said it would launch its own electric car business and invest $10 billion over the next 10 years. The money is expected to go toward these initiatives.
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