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TENCENT Reportedly Starts Marketing USD5B Bond Deal, Earliest Pricing on Tue
2026-10-13 08:56:12 After TENCENT (00700.HK) announced plans to issue medium-term notes, Bloomberg, citing sources, reported that the company has started marketing USD and offshore RMB bonds and is anticipated to capture around USD5 billion to support the group's continuously expanding investments in AI. TENCENT reportedly set initial price guidance for its proposed 10-year and 20-year USD bonds at around 115 bps and 140 bps above US Treasury yields, respectively. Meanwhile, the group is also marketing 10-year and 30-year offshore RMB notes, with guidance around 2.9% and 3.5%, respectively. The bonds are expected to be priced as early as Tuesday (13th). The proceeds from the issuance will be used for general corporate purposes, including AI-related capital expenditure, with most of the spending expected to go toward chip procurement, sources divulged. TENCENT's capital expenditure may remain elevated for the rest of this year and into 2027, implying annual spending slightly above RMB200 billion based on the level recorded in 2Q26. ~ AASTOCKS Financial News Website: www.aastocks.com | |