Asia Biz News - Asian Business News and Tenders

Baidu.com Search Engine Opens $250M Offering For New Funds

December 5, 2018

Baidu.com, the second-biggest internet search engine in the world after Google.com, has released a new public offering of US $250 million of notes to help expand the company's business.

Baidu's public offering of US$250 million aggregate principal amount of notes follow a reopening of the Company's existing 4.375% notes due 2024.

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 US$249 million, after deducting underwriting discounts and commissions and estimated offering expenses. The Company intends to use the net proceeds from the offering to repay existing indebtedness and for general corporate purposes.

The joint bookrunners of the offering are Goldman Sachs (Asia) L.L.C. and J.P. Morgan Securities LLC.

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