Tencent wires up $2b bond

Chinese internet company raises a dual-tranche debt offering, obtaining a whopping $17 billion order book as sentiment in Asia US dollar credit markets continue to stabilise.

Tencent wires up $2b bond

Tencent sold a $2 billion dual-tranche bond on Thursday morning, pricing both issuances at the tighter end of their final price guidance thanks to favourable market conditions.

The Chinese internet company priced the 144AReg S offering, which can be broken down into a $1.1 billion five-year and a $900 million 10-year bond at Treasuries plus 162.5bp and 205bp respectively. This is 20bp and 30bp tighter than their initial...

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