China's Xiaomi mandates 12 banks to lead U.S. dollar bond issue
July 6 - Chinese smartphone maker Xiaomi Corp. will mandate 12 banks to lead a U.S. dollar bond issue, according to a term sheet seen by Reuters.Goldman Sachs, Credit Suisse, J.P. Morgan, China International Capital Corp, CLSA Ltd, $Morgan Stanley$, Citigroup, HSBC, Bank of China, China Construction Bank Corp, ICBC and AMTD will lead the bond issue, the document showed.
The recent downturn in Alibaba's share price has created an investment opportunity for long-term capital appreciation.The Chinese economy is expected to become the world's largest economy by 2028 and more than 500 million people will be part of the middle class by end of 2023.Alibaba will experience tailwinds from individuals and businesses spending more money during this period of growth in China.Alibaba is the dominant force in cloud services in China which could become a significant revenue g