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Foreign media: NetEase enters the joint loan market for the first time and obtains a loan of 500 million US dollars.

via:博客园     time:2018/10/7 13:01:15     readed:168

On October 7th, according to foreign media reports, sources said that NetEase has signed a $500 million loan agreement, which is its first foray into the joint loan market.

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ANZ Bank, Citigroup, DBS Bank and HSBC are the lead, bookkeeping and underwriting banks, prepaid for this three-year revolving loan. Five other banks joined as lead.

The loan provides a maximum consolidated income of 113 basis points, with an interest rate of 95 basis points over Libor (London Interbank Offered Rate) and a fee of 54 basis points.

The agreement was signed on October 3. The funds raised are used for working capital and refinancing.

On Friday, Netease shares rose 0.41% to $215.51, with a total market capitalization of approximately $27.98 billion.

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