Baidu Prices USD1.5 Billion Notes in PO; Some Proceeds Will Retire Debt
Xu Wei
/SOURCE : Yicai
Baidu Prices USD1.5 Billion Notes in PO; Some Proceeds Will Retire Debt

(Yicai Global) March 23 -- Baidu Inc. [NASDAQ:BIDU] announced today the pricing of its public offering of the USD1.5 billion aggregate principal amount of its notes.

The public offering consists of USD1 billion of 3.875 percent of notes due in 2023 and USD500 million of 4.375 percent notes due in 2028.The bills are expected to list on the bourse of the Singapore Exchange Securities Trading Ltd., Sina.com reported.

The company expects to receive net proceeds from the offering of about USD1.5 billion after deducting underwriting discounts and commissions and estimated offering expenses. Baidu plans to use the net proceeds to pay off existing debt and for general corporate purposes.

The joint bookrunners of the offering are Goldman Sachs (Asia) LLC, J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Inc.

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Keywords: Baidu , Note , Bonds