Tencent's dual currency bond subscription orders exceed $6 billion, returning to the US dollar bond market for the first time in five years According to Beating monitoring, Tencent Holdings' offshore RMB and USD dual currency bonds have attracted enthusiastic subscriptions. According to the latest accounting data cited by Reuters, the total amount of dual currency bond subscription orders has exceeded 6 billion US dollars. Among them, the combined orders of 10-year and 30-year offshore RMB bonds (Dim sum bonds) exceeded 20.5 billion yuan (about 3.02 billion dollars); The subscription intention for 10-year and 20-year US dollar bonds has also exceeded 3 billion US dollars. In terms of pricing guidance range, Tencent's initial price guidance for 10-year US dollar bonds is US treasury bond bonds plus 80 basis points, and that for 20-year US dollar bonds is US treasury bond bonds plus 90 basis points; In terms of offshore RMB bonds, the 10-year yield guidance is about 2.95%, and the 30-year yield guidance is about 3.55%. The funds raised this time will be used for general corporate purposes and refinancing. This is Tencent's first return to the US dollar bond market in five years since issuing $4.15 billion in bonds in April 2021. Although Bloomberg reported yesterday that Tencent initially planned to raise $3 billion (Reuters sources said the target was $4 billion), the high demand for subscriptions from investors has pushed up the order size. Tencent has currently obtained regulatory approval to issue up to $4.5 billion in offshore debt. [Original link]