Xiaomi secures $1 billion loan to build more stores and push its overseas expansion

After Xiaomi reported its best-ever quarter in the April-June period this year, the company announced this Friday that it has negotiated a $1 billion loan from a syndicate of 18 banks worldwide. The company is allegedly looking to strengthen its push in Asia and move forward with plans overseas, and that’s pretty much everything we know about where this $1 billion will go.

The deal was coordinated by Deutsche Bank and Morgan Stanley, and involved banks from Europe, India, China, Hong Kong and the Middle East.

Xiaomi briefly became the most valuable startup in ...