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The deal comes amid a flurry of debt financings by tech giants.
By Apple Lam and Zheping Huang, Bloomberg
19 Feb 2021 10:07
Image: Yan Cong/Bloomberg
Tencent, the creator of the messaging platform WeChat, has raised $8.3 billion in the biggest offshore syndicated loan in Asia for a Chinese firm since 2016.
Twelve banks joined the Tencent financing deal, which initially had a $6 billion size, according to people familiar with the matter. The loan will be used for general corporate purposes, the people said, asking not to be identified as they arenât authorised to speak publicly. Representatives for Tencent didnât immediately respond to requests for comment. IFR Asia earlier reported on the deal closing.
Read more about Tencent raises $8.3 billion with its biggest offshore syndicated loan on Business Standard. The deal comes amid a flurry of debt financings by tech giants, with Alibaba Group Holding Ltd. issuing $5 billion of bonds in early February
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Tencent, the creator of the messaging platform WeChat, has raised $8.3 billion in the biggest offshore syndicated loan in Asia for a Chinese firm since 2016.
Twelve banks joined the Tencent financing deal, which initially had a $6bn size, according to people familiar with the matter.
The loan will be used for general corporate purposes, the people said, asking not to be identified as they are not authorised to speak publicly.
Representatives for Tencent didn’t immediately respond to requests for comment.
Tencent is fast evolving beyond a social media and gaming behemoth over the past decade and has poured billions of dollars snapping up stakes in promising start-ups, widening its reach in areas from social media to grocery delivery. It received a $1.6bn loan last month to back its purchase of more shares in Universal Music Group International.
Tencent Raises $8.3 Billion in Offshore Syndicated Loan
Apple Lam, Bloomberg News The Tencent Holding Ltd. logo at the company s Tencent Binhai Mansion in Shenzhen, China, on Thursday, Nov. 19, 2020. , Yan Cong/Bloomberg
(Bloomberg) Tencent Holdings Ltd., the creator of the messaging platform WeChat, has raised $8.3 billion in the biggest offshore syndicated loan in Asia for a Chinese firm since 2016.
Twelve banks joined the Tencent financing deal, which initially had a $6 billion size, according to people familiar with the matter. The loan will be used for general corporate purposes, the people said, asking not to be identified as they arenât authorized to speak publicly. Representatives for Tencent didnât immediately respond to requests for comment. IFR Asia earlier reported on the deal closing.