Chinese tech giant Tencent (0700) is considering an offshore yuan bond issuance as soon as this month, Bloomberg reported, marking the company’s first “dim sum” bond and its first public debt offering since April 2021.
Tencent has a US$1 billion (HK$7.8 billion) bond maturing in January 2026 and a US$500 million note due in April, Bloomberg-compiled data show.
Concurrently, tech firm Baidu (9888) also plans to issue 4.4 billion yuan (HK$4.81 billion) in senior unsecured notes due 2029, carrying a 1.9 percent coupon. The offering is expected to close around next September 15.
Proceeds will be used to repay existing debt, cover interest payments, and for general corporate purposes.
Meanwhile, China Pacific Insurance (2601) is exploring a convertible bond issuance of up to US$2 billion, with the company working with banks on the potential deal that could be announced as early as this week, Bloomberg reported.
In June, Ping An Insurance Company of China issued HK$11.8 billion in convertible bonds, saying the proceeds would support core business development and new strategies in healthcare and elderly care, the report said. Last year, the insurer also issued US$3.5 billion in convertible notes.
STAFF REPORTER
