Baidu (HKG:9888) announced the pricing of its planned offering of 10-billion-yuan senior unsecured offshore bonds offered to certain non-US investors, according to a Thursday filing with the Hong Kong bourse.
The bonds offering comprises 7.5 billion yuan bonds with an interest rate of 2.70%, due 2030, and 2.5 billion yuan bonds with an interest rate of 3.00%, due 2035. The company expects to close the offering by March 12.
The funds will be used to retire existing debt and general corporate purposes.
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