Tencent raises this year’s largest Asian corporate debt deal – $6 billion

HONG KONG (Reuters) – Chinese social media and gaming giant Tencent Holdings Ltd said on Thursday it raised $6 billion in a US dollar bond sale – the largest debt deal by an Asian corporate in 2020. The deal was finalised early on Thursday in which Tencent, raised $1 billion in five-year debt, $2.25 billion in 10-year, $2 billion in 30-year and $750 million in 40-year debt, a term sheet showed. It was the first time Tencent, Asia’s second-most valuable company by market capitalisation, raised 40-year debt in its history. Demand from investors reached $36 billion, according to two sources with direct knowledge of the matter. Before the Tencent deal, the biggest was a $4 billion junk bond by Scenery Journey in January and a $2.9 billion bond by Chinese state oil firm Sinopec on May 7, the data showed.

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