Tencent Launches $5 Billion Bond Issuance for AI Investment

Tencent Holdings has begun marketing dollar and offshore renminbi bonds, with an issuance size of approximately $5 billion, aimed at supporting its investments in artificial intelligence. The preliminary pricing guidance for the proposed 10-year and 20-year dollar bonds is approximately 115 basis points and 140 basis points above comparable U.S. Treasury yields, respectively. Meanwhile, the guidance for the 10-year and 30-year offshore renminbi notes is approximately 2.9% and 3.5%, respectively.

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