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ZTE acquires $10 billion credit line from China Exim Bank
TT Bureau |  |  25 May 2009

Telecom gear maker ZTE has acquired a $10 billion credit line in a deal signed with the Export-Import Bank of China, also known as China Exim Bank.


The agreement follows the earlier US$15 billion credit line, which was announced in March, this year.


As a part of the agreement, ZTE and China Exim Bank will collaborate 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.


With this deal, ZTE will treat China Exim Bank as a prime banker and take care of loans and relevant businesses through the company.

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25 May 2009(IST)  
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