GUANGZHOU, China — Chinese language smartphone large Xiaomi will elevate round $1.2 billion by way of debt issuance at a time when authorities are cracking down on China’s expertise giants.

Xiaomi will situation $800 million value of bonds due in 2031 with a coupon of two.875% per yr. The proceeds will likely be used for “common company functions,” in accordance with a regulatory submitting.

The electronics maker may even situation $400 million of so-called inexperienced bonds with a 4.1% coupon per yr. Inexperienced bonds are debt issued to lift cash to assist environmental tasks. Xiaomi mentioned the proceeds will go towards funding eligible tasks underneath its “Inexperienced Finance Framework,” an environmental scheme.