China’s Tencent to list $30 billion medium-term note program

By Rebecca Melvin

Concord, N.H., April 13 – Tencent Holdings Ltd. is applying to list a $30 billion global medium-term note program on the Hong Kong Exchange, according to a notice.

The company established the MTN program in April 2014 with an original limit of $5 billion. Listing of the most recent program will become effective on April 14 and remain in effect for 12 months.

Morgan Stanley, BofA Securities and Deutsche Bank are the arrangers and dealers for the Regulation S program. They are joined by Bank of China (Hong Kong) and HSBC as dealers.

According to a Moody’s Investors Services press release, the company is preparing an offering of notes (expected ratings: A1/A+), for which proceeds will be used for general corporate purposes.

Tencent is an investment holding company based in Shenzhen, China.

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