Tencent reportedly considering issuing up to $5 billion in offshore bonds

According to sources, Tencent Holdings is considering issuing up to $5 billion in offshore bonds. The bonds could be denominated in US dollars or offshore renminbi and may be issued as early as this month. In June, Tencent raised nearly $4.7 billion through the issuance of long-term dollar and renminbi bonds, marking its largest bond issuance since 2020. The proceeds were primarily used for debt refinancing and general corporate purposes, including the development of AI products and services.