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2021-08-18

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Baidu Looks to Sell Dollar Bonds

Borrower marketing notes to mature in 5.5 and 10 years Firm had received $1 billion bond sale quota

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A Baidu dollar bond maturing in 2026 was trading Wednesday at a spread of 83 basis points, according to Bloomberg-compiled data.</p>\n<p>The firm earlier received a $1 billion bond sale quota from the National Development and Reform Commission, China’s top economic planning agency. Borrowers can choose whether or not to use the full amount.</p>\n<p>The sale would be Baidu’s first return to the dollar bond market since October and follow mobile phone maker Xiaomi Corp.’s $1.2 billion offering in July that also included a green note. Planning to use the proceeds for general corporate purposes and debt repayment, Baidu is now spending heavily to reposition itself as an artificial intelligence company with use cases in everything from ride-hailing to smart speakers and the cloud.</p>\n<p>Offshore bonds sold by China’s major tech firms have enjoyed robust demand in recent years, with strong support from both local and U.S. buyers. Xiaomi’s offering in July, for example, attracted more than $7 billion of orders, even as regulators moved to increase scrutiny of the industry.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Baidu Looks to Sell Dollar Bonds</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBaidu Looks to Sell Dollar Bonds\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-18 11:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-08-18/baidu-looks-to-sell-dollar-bonds-amid-tech-crackdown><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Borrower marketing notes to mature in 5.5 and 10 years\nFirm had received $1 billion bond sale quota from NDRC\n\nBaidu Inc. is marketing a two-part dollar bond, according to a person familiar with the ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-08-18/baidu-looks-to-sell-dollar-bonds-amid-tech-crackdown\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09888":"百度集团-SW","BIDU":"百度"},"source_url":"https://www.bloomberg.com/news/articles/2021-08-18/baidu-looks-to-sell-dollar-bonds-amid-tech-crackdown","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2160781983","content_text":"Borrower marketing notes to mature in 5.5 and 10 years\nFirm had received $1 billion bond sale quota from NDRC\n\nBaidu Inc. is marketing a two-part dollar bond, according to a person familiar with the matter.\nThe Internet search giant, an investment-grade issuer, is looking to price 5.5-year and 10-year notes at about 115 basis points and 150 basis points, respectively, above comparable Treasuries, said the person, who asked not to be identified because they’re not authorized to speak about it publicly. A Baidu dollar bond maturing in 2026 was trading Wednesday at a spread of 83 basis points, according to Bloomberg-compiled data.\nThe firm earlier received a $1 billion bond sale quota from the National Development and Reform Commission, China’s top economic planning agency. Borrowers can choose whether or not to use the full amount.\nThe sale would be Baidu’s first return to the dollar bond market since October and follow mobile phone maker Xiaomi Corp.’s $1.2 billion offering in July that also included a green note. Planning to use the proceeds for general corporate purposes and debt repayment, Baidu is now spending heavily to reposition itself as an artificial intelligence company with use cases in everything from ride-hailing to smart speakers and the cloud.\nOffshore bonds sold by China’s major tech firms have enjoyed robust demand in recent years, with strong support from both local and U.S. buyers. 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