Market Chatter: Lenovo Group Seeks $2 Billion Loan to Refinance Debt

MT Newswires Live10-22

Lenovo Group (HKG:0992) is seeking a $2 billion five-year syndicated loan to refinance debt at a lower cost as its artificial intelligence infrastructure business continues to expand, Bloomberg reported Wednesday, citing people familiar with the matter.

The facility is priced at 75 basis points over the Secured Overnight Financing Rate (SOFR), tighter than the 110 basis points plus a credit adjustment spread over SOFR that the company paid for a loan of the same size in 2022, according to the report.

The personal computer maker did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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