Lenovo Group Ltd. (00992.HK) is in talks with more than 10 banks for US$1.5 billion in loans, Reuters’ Basis Point reported late Tuesday, citing unnamed sources. The loan, with a maturity of five years, will be used for general corporate purposes. The rate will be similar to that for the US$500 million revolving loan the company secured in January 2011, which was 137.5 basis points higher than the London interbank offered rate.
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