Baidu (HKG:9888) raised 10 billion yuan from the sale of two 10-year bonds outside of mainland China, the South China Morning Post reported Wednesday, citing a person familiar with the matter.
The 7.5 billion yuan issuance has a coupon of 2.7%, while the 2.5 billion yuan issuance has a 3% coupon, the report said, citing the source.
Baidu's issuance is its first ever denominated in renminbi, the report said.
Proceeds will be used for general corporate purposes, including debt repayments, Bloomberg reported, citing the source.
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