Chinese smartphone maker Xiaomi said to clinch $1b loan at cheapest rate ever

Chinese smartphone maker Xiaomi said to clinch $1b loan at cheapest rate ever

A "MI" logo stands outside the main entrance of the Xiaomi Corp. headquarters in Beijing, China. Photographer: Edmond Lococo/Bloomberg

Xiaomi Corp. is returning to the loan market after a two-year absence with a $1 billion refinancing facility.