Pursuits
Tencent Is Said Likely to Increase Loan to as Much as $4 Billion
- Asia’s biggest Internet firm raising amount from $1.5 billion
- Banks have May 20 deadline for committing to the loan
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Tencent Holdings Ltd., Asia’s biggest Internet company, is likely to raise as much as $4 billion in a syndicated loan amid strong demand from investors, people familiar with the matter said.
The Chinese firm, which operates the WeChat and QQ instant message systems, has received subscriptions totaling about that amount ahead of a May 20 deadline for banks to commit, according to the people, who asked not to be identified because the details are private. The company hired banks last month for a loan of $1.5 billion, people said at the time.