Cash-rich Baidu turns to dollar bond markets

China's dominant internet search engine, co-founded by Robin Li, raises $1.5 billion in a debut bond sold mainly to high-grade US investors.

Cash-rich Baidu turns to dollar bond markets

Chinese search engine Baidu raised $1.5 billion in one fell swoop from its first dollar bond, making it one of the biggest debut bonds from a private sector company out of Asia.

Nasdaq-listed Baidu was co-founded by Robin Li, who is one of China’s richest men and the chief executive of Baidu. The company has a dominant presence in the online search industry and is often referred to as the Google of China. However, it...

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