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Baidu to sell $1.5 bil in debt

The Chinese search provider's shares fell 0.9% to 93.24 the day after it announced it is selling debt in two offerings. The first offering will be $750 mil in notes at a 2.25% return, maturing in '17. The second will be $750 mil at 3.5%, maturing in '22. Baidu (BIDU) said it plans to use some of the proceeds to pay down existing debt.