Tencent Music Entertainment (1698) is considering raising up to US$1 billion (HK$7.8 billion) through a dollar bond offering, its first offshore bond sale in six years, Bloomberg reported, citing people familiar with the matter.
The company has hired banks to arrange an offering of five-year bonds, 10-year bonds, or both, which could launch as early as Thursday, the report said.
The New York- and Hong Kong-listed company is scheduled to hold a series of calls with global fixed-income investors on Wednesday afternoon, with issuance details subject to market conditions, the report added.
It plans to use the proceeds for general corporate purposes, including refinancing offshore debt and share repurchases, people familiar with the matter told Bloomberg.
The company currently has US$500 million of bonds due in 2030, according to data compiled by Bloomberg.
