Baidu plans to issue yuan-denominated senior notes

Baidu (9888) announced its plan to issue senior unsecured notes denominated in Chinese yuan. 

The net proceeds from the offering are intended for general corporate purposes, which may include the repayment of certain existing debts, payment of interest, and other general corporate uses.

The company stated that the aggregate principal amount, interest rate, maturity date, and other terms of the notes will be finalized at the time of the pricing of the offering.

Baidu's shares gained 2.6 percent as of 11.25 in Hong Kong.