Tencent markets US dollar and dim sum bonds in four tranches
Tencent Holdings, the Chinese technology giant, is marketing US dollar bonds due in 10 and 20 years, as well as offshore Chinese yuan, or dim sum bonds, with maturities of 10 and 30 years, according to term sheets. The company is seeking funding in two currencies with its bond issuance. Initial guidance for the 10-year dollar notes set by Tencent is approximately 115 basis points over comparable US Treasury bonds, while the initial guidance for the 20-year notes is about 140 basis points over Treasuries.
For the 10-year offshore yuan notes, Tencent has set an initial yield guidance of around 2.90 percent, and for the 30-year notes, the yield guidance is around 3.50 percent.
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- Tencent markets US dollar and dim sum bonds in four tranches channelnewsasia.com
