BIDU-SW (09888) has completed the issuance of RMB 10 billion principal value senior notes.
Baidu Group - SW (09888) announced that it has completed the issuance of a total principal amount of RMB 10 billion in Chinese yuan...
BIDU-SW (09888) announced the completion of the issuance of RMB 1 billion in principal amount of RMB-denominated senior unsecured notes. The notes were issued in accordance with Regulation S under the US Securities Act of 1933 (as amended) through offshore transactions to several non-US persons. The issuance includes RMB 7.5 billion 2.70% notes due in 2030 and RMB 2.5 billion 3.00% notes due in 2035. Approval for listing and trading of the notes on the Hong Kong Stock Exchange is expected to take effect on March 13, 2025.
The announcement stated that the company intends to use the net proceeds from the issuance of the notes for general corporate purposes, including repayment of existing debts, payment of interest, and general corporate purposes.
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