Mounting R&D and memory costs push Huawei to borrow US$2.3B from six Chinese banks

Huawei Technologies has secured a seven-year, CNY15 billion (approx. US$2.3 billion) offshore yuan loan from six Chinese banks, as rising research spending and memory costs weigh on its cash flow. The financing, arranged by domestic lenders, is Huawei's first offshore syndicated borrowing since 2020, Bloomberg reported, citing a person familiar with the matter.