Baidu Plans to Raise $1.4 Billion in Sale of Offshore Yuan Bonds
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Baidu Inc., the operator of China’s leading search engine, is planning to offer about 10 billion yuan ($1.4 billion) of bonds offshore, people familiar with the matter said, adding to a string of recent debt financings by the nation’s tech companies.
The deal will consist of a 5-year note to yield 2.6% to 2.8%, and a 10-year security at 2.8% to 3.0%, according to the people, who asked not to be identified. It may price on Wednesday. The size has increased from earlier discussions of a total of at least 4 billion yuan.