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Bloomberg
Tencent Holdings Ltd is planning to raise around $5 billion through a dollar bond sale on Wednesday, according to people familiar with the matter.
China’s social media leader received an issuance quota of $6 billion from China’s National Development and Reform Commission, people who aren’t authorised to speak publicly and asked not to be identified said. Once priced this could become the biggest dollar bond offering in Asia excluding Japan so far this year, according to data compiled by Bloomberg.
Tencent declined to comment in an emailed statement.
It plans to use about $3 billion of the new bond proceeds to retire maturing debt, including the $2 billion notes that are due in May, a company executive said. Tencent is recovering from a bruising year of regulatory crackdowns as game approvals slowly resume.