China tech giant joins USD bond rush run in the latest week. China’s tech firm Tencent was selling four tranches of bonds worth USD 5 billion on Jan. 19, according to the company’s announcement a week earlier.
The 4 tranches include 5-, 10-, and 20-year fixed-rate bonds at 2.985%, 3.595%, 3.925% respectively, and 5-year floating-rate bonds at 0.605% over three-month LIBOR.
The bonds selling plan is part of the company’s USD 10 billion medium-term bonds issuing plan announced in the previous week, according to China Xinhua News, “the global rating agency Moody’s has assigned a rating of A2, meaning low risk of default, to the Tencent bonds. The rating is one level below China’s business titan Alibaba’s bonds, issued last November”.