Goldman Sachs and Morgan Stanley are underwriting a loan facility of as much as $1 billion U.S. for Chinese property site Beike (AKA, Ke.com), according to a report in Bloomberg. Beike asked banks for an interest margin of 210 basis points below Libor, the report added.

Chinese unicorns are drawn to loans because they can be arranged quickly with few public disclosures. This is a plus for young companies that want to avoid giving away too much information to competitors. This is according to Andrew Ashman, the Singapore-based head of loan syndicate for the Asia Pacific at Barclays Plc.

In May, Beike CEO Peng Yongle said the firm aims to attract more than 100 million monthly active users by 2021. He added that this number is set to reach 250 million in the next five years.

Beike topped a recent list of the 500 fastest growing technology companies in the Asia-Pacific region by Deloitte. The real estate vertical has logged a “32,179 percent” revenue growth rate since launching in April 2018. It is now operational in more than 100 Chinese cities and has added more than 120 real estate agency brands and 168,000 individual agents to its open platform alliance.

The brewing rivalry between Beike and 58.com / Anjuke boiled over in April, as the two parties exchanged lawsuits. Each claimed that the other had stolen proprietary verified property information for use on their own site. Just one week prior, Beike snagged a major new agency partner in Century 21 China; dealing a blow to 58.com and Anjuke’s agency alliance in the process.

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