Tencent to Raise Around $5.7 Billion from Dollar, Yuan Bonds

Dow Jones10-14 10:08

Tencent Holdings plans to raise nearly $5.7 billion through a dual-currency offering of dollar and yuan bonds.

The fundraising coincides with a broader push by Chinese technology and artificial intelligence firms to secure capital for expansion amid the AI boom.

The company intends to issue notes valued at $1.8 billion and 26 billion yuan, equivalent to $3.88 billion, Tencent said Wednesday.

Tencent plans to use the net proceeds for general corporate purposes.

According to a recent report by S&P Global Ratings, Tencent's annual capital expenditures could surpass 200 billion yuan in both 2026 and 2027 to fund investments in artificial intelligence and cloud computing. This projected outlay would mark a sharp increase from the 87.5 billion yuan in 2025.

Tencent's shares were down 1.5% at 419.00 Hong Kong dollars in early Hong Kong trading.

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