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...

To continue reading, please login or register for free

Click for more on: tencent | china | social media | bond | investment grade

Print Edition

FinanceAsia Print Edition