According to Beating's monitoring, the demand for Tencent's dual-currency bonds outside China in yuan and US dollars is strong, with total orders exceeding $6 billion.


Total 10/30-year yuan bonds amounting to 20.5 billion yuan (about $302 million), and 10/20-year dollar bonds have been requested for over $3 billion.
Pricing range: approximately 80-90 basis points above the US Treasury benchmark yield, with 10-year yuan bonds around 2.95%, and 30-year around 3.55%.
The financing is used for general purposes and refinancing, and regulators have approved a maximum issuance of $4.5 billion in offshore bonds.
TENCENT1.52%
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