Tencent Plans Asia's Biggest Dollar Bond This Year
- Plans return for dollar bonds after a gap of 15 months
- It plans to use about $3 billion to repay its maturing debt
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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 authorized 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.