Chinese telecom equipment maker, ZTE, is planning to invest about $1 billion in foreign-exchange hedging derivatives, The Wall Street Journal reports. ZTE will invest in two batches, one consisting of about $800 million and the other of about $208.9 million.
The investments include forex forwards and structured forwards, complemented by forex swaps and forex options. The company is also planning to invest up to $1 billion in fixed-income derivatives products, including forex forwards.
Click here for the story from The Wall Street Journal.