Market Chatter: Tencent Said Targeting $3 Billion from Dual-Currency Bond Sale
Tencent Holdings (HKG:0700) is planning a $3 billion fundraising through a dual-currency bond sale, Bloomberg News reported Monday, citing people familiar with the matter.The tech giant has appointed investment banks for the offering of US dollar bonds maturing in 10 and 20 years and offshore yuan-denominated bonds due in 10 and 30 years, the report added.The bond offering, earmarked for refinancing and general corporate purposes, could reportedly be priced as early as Tuesday but final details are yet to be decided.Tencent did not immediately respond to' request for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)