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.
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.