Huawei’s $30 Billion China Credit Opens Doors in Brazil, Mexico

By Edmond Lococo, Crayton Harrison, Michael Forsythe, Diana ben-Aaron, Matthew Campbell, Fabiola Moura, Jonathan Stearns and Andres R. Martinez – When Tele Norte Leste Participacoes SA, Brazil’s biggest land-line company, was shopping for network equipment last year, Huawei Technologies Co.’s offer stood out: access to China Development Bank’s $30 billion credit line.

A two-year grace period on payments and an interest rate of 2 percentage points over the London interbank offered rate created an unbeatable deal, Tele Norte Chief Financial Officer Alex Zornig says.

“The Chinese are filling the space left empty by Americans and Europeans. They are very aggressive and they have a lot of money.” more>


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