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Lenovo plans to raise a $2 billion loan to refinance old debt at a lower cost
15 hour ago /
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Author：小编
According to sources familiar with the matter, Lenovo Group is seeking a $2 billion loan with an interest rate lower than that of its existing loan, which it intends to refinance. Despite the sluggish trading in the Asian loan market, banks remain willing to extend credit to leading Chinese enterprises. The five-year loan has commenced syndication with an interest rate set at 75 basis points above the Secured Overnight Financing Rate (SOFR), significantly lower than the equivalent-sized loan in 2022. That previous loan was priced at 110 basis points above SOFR plus a credit adjustment spread, with the difference attributed to the transition of the benchmark interest rate from the London Interbank Offered Rate (LIBOR) to SOFR.
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