Tencent raises US$6b in largest Asian corporate debt deal this year

Business | 28 May 2020 10:09 am

Tencent Holdings (0700) has raised US$6 billion in debt, the Chinese company said today, in the largest debt deal by an Asian corporate in 2020.

The deal was finalised early today in which Tencent raised US$1 billion in five-year debt, US$2.25 billion in 10-year, US$2 billion in 30-year and US$750 million in 40-year debt, a term sheet showed, Reuters reports. It was the first time Tencent raised 40-year money in its history.

The transaction was the largest by a non-financial company in the Asian region so far this year, data compiled by Refinitiv showed.

Before the Tencent deal, the biggest was a US$4 billion junk bond by Scenic Journey in January and a US$2.9 billion bond by Sinopec on May 7, the data showed.

Around US$712 billion has been raised by Asia Pacific corporates, not including Tencent’s latest deal, in 2020 which is the strongest start to a year on record, according to Refinitiv data.


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