Chinese social media and gaming giant Tencent Holdings is planning to raise abou...
HONG KONG - Chinese social media and gaming giant Tencent Holdings is planning to raise about $5 billion in U.S. dollar-denominated bonds this week, two people with knowledge of the matter said.
The deal could be Asia’s largest so far this year, Refinitiv data shows. Chinese property developer Evergrande sold $2.8 billion in bonds in January, currently the biggest issue.Tencent last tapped the bond market in January last year, in which it raised $5 billion. It plans to launch the latest sale on Wednesday, the people said.The tech giant has a $6 billion offshore issuance quota from China’s state planner, the National Development and Reform Commission , the people said.
The company has hired Deutsche Bank, HSBC, Goldman Sachs and Morgan Stanley as joint global coordinators for the bond issue, Tencent said in the exchange filing.
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