Tencent Taps Overseas Debt Amid China New Economy Appeal
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Tencent Holdings Ltd., China’s second-biggest Internet company, went overseas for more financing as the nation’s consumer-focused technology companies expand their international clout.
The operator of WeChat, one of the most popular social messaging services in China with about 468 million monthly users, sold a total of $2 billion in a two-part bond sale. That adds to Tencent’s dollar-denominated debt after its last issuance in a $2.5 billion offering in April. Alibaba Group Holding Ltd., the competitor founded by billionaire Jack Ma, sold $8 billion of notes in November after raising a record $25 billion in an initial public offering in the U.S. in September.