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Tencent Raises $6 Billion in Debt

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By Gina Lee

Investing.com – China’s tech giant Tencent Holdings (OTC:TCEHY) has raised $6 billion in debt, Asia’s largest debt raining by a non-financial company so far this year.

Before the Tencent deal, Scenic Journey’s $4 billion junk bond issued in January held the title, followed by Sinopec’s $2.9 billion bond on May 7.

The company said in an announcement on Thursday that the debt was raised via $1 million in 5-year-debt, $2.25 billion in 10-year, $2 billion in 30-year and the remaining $750 million in 40-year.

The 40-year debt was the first in Tencent’s history.

The notes are expected to be issued by June 3, and the funds will be used for refinancing and general corporate purposes.

Meanwhile, Tencent’s Hong Kong shares were down 2.75% to HK$406.90 ($52.48) by 12:21 AM ET (5:21 AM GMT).

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