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Investing.com -- Chinese gaming and social media giant Tencent Holdings is planning to raise the equivalent of $1 billion through a three-tranche offshore yuan bond deal, Reuters reported on Tuesday, citing sources familiar with the matter.
The company intends to issue dim sum bonds with maturities of five, 10, and 30 years, as shown in a term sheet reviewed by Reuters.
Initial price guidance for the bonds stands at approximately 2.6% for the five-year tranche, 3% for the 10-year tranche, and 3.6% for the 30-year tranche, report said.
The bond sale is specifically targeted at investors located outside the United States.
Tencent, which dominates China’s gaming and social media landscape, has not provided an official comment regarding the planned bond issuance.
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