Baidu on Thursday priced its yuan-denominated offshore offering of senior unsecured notes at 10 billion yuan ($1.38 billion), which were offered to non-US individuals in transactions conducted outside of the United States.
The Chinese technology firm’s offering comprises 7.5 billion yuan of 2.70% notes due in 2030, and 2.5 billion yuan of 3.00% notes due in 2035.
Baidu said it plans to use the proceeds from the offering, which it announced on March 5, for general corporate purposes which may include repaying certain existing debts, paying interest, and other corporate needs.
The official closure of this offering is expected on or about March 12, contingent on the satisfaction of customary closing conditions.
The notes are expected to be listed on the Hong Kong Stock Exchange, Baidu said.
Reuters
