Baidu Announces Pricing of USD 1.5 Bln Notes Offering
Baidu, 11/20/12
Chinese internet company Baidu (Nasdaq: BIDU) today announced the pricing of its public offering of USD 1.5 bln (aggregate principal amount) in notes. The public offering consists of USD 750 mln of 2.25% notes due 2017 and USD 750 mln of 3.5% notes due 2022. The notes have been registered under the U.S. Securities Act of 1933, as amended, and are expected to be listed on the Singapore Exchange Securities Trading Limited.
The company expects to receive net proceeds from the offering of approximately USD 1.4916 bln, after deducting underwriting discounts and commissions and estimated net offering expenses. The company intends to use a portion of the net proceeds from the offering to retire certain existing debt and the remainder for general corporate purposes.
The joint bookrunners of the offering are J.P. Morgan Securities and Goldman Sachs (Asia). The company has filed an automatic shelf registration statement on Form F-3 (including a base prospectus) and a related preliminary prospectus supplement with the U.S. Securities and Exchange Commission for the offering of the notes.
Keywords: debt financing online search Internet Baidu BIDU
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