Tencent plans $5bn dollar bond sale

3 April, 2019 12:00 AM printer

HONG KONG: Chinese social media and gaming giant Tencent Holdings is planning to raise about US$5 billion in U.S. dollar-denominated bonds this week, two people with knowledge of the matter said.

The deal could be Asia's largest so far this year, Refinitiv data shows. Chinese property developer Evergrande sold US$2.8 billion in bonds in January, currently the biggest issue, report agencies.

Bloomberg first reported Tencent's plan for the bond issue earlier in the day. Tencent last tapped the bond market in January last year, in which it raised US$5 billion. It plans to launch the latest sale on Wednesday, the people said.