Published on 4/16/2021 in the Prospect News Emerging Markets Daily.
New Issue: China’s Tencent Holdings prices $4.15 billion of notes in four parts
By Rebecca Melvin
Concord, N.H., April 16 – Tencent Holdings Ltd. priced $4.15 billion of notes in four tranches (A1/A+), according to an announcement from the company.
Tencent priced $500 million of 2.88% 10-year notes at 99.991, $900 million of 3.68% 20-year notes at 99.972, $1.75 billion of 3.84% 30-year notes at 99.965 and $1 billion of 3.94% 40-year notes at 99.96.
The proceeds will be used for general corporate purposes.
Joint global coordinators and managers of the Rule 144A and Regulation S notes are Morgan Stanley, BofA Securities, Goldman Sachs (Asia) LLC and HSBC. They are joined by Bank of China (Hong Kong), Bocom International, China International Capital Corp., CLSA, Credit Suisse, DBS Bank Ltd., Deutsche Bank, ICBC (Asia), JPMorgan, Mizuho Securities, Standard Chartered Bank and UBS as managers.
The issuance was made under Tencent’s global medium-term note program, which was amended on April 13. After the issuance on April 22, the company will have $22.15 billion principal amount outstanding of notes under the program.
Tencent is an investment holding company based in Shenzhen, China.
| Issuer: | Tencent Holdings Ltd.
|
| Issue: | Notes
|
| Amount: | $4.15 billion
|
| Global coordinators: | Morgan Stanley, BofA Securities, Goldman Sachs (Asia) LLC and HSBC
|
| Additional managers: | Bank of China (Hong Kong), Bocom International, China International Capital Corp., CLSA, Credit Suisse, DBS Bank Ltd., Deutsche Bank, ICBC (Asia), J.P. Morgan, Mizuho Securities, Standard Chartered Bank and UBS
|
| Announcement date: | April 16
|
| Issue date: | April 22
|
| Ratings: | Moody’s: A1
|
| S&P: A+
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| 2031 notes
|
| Amount: | $500 million
|
| Maturity: | April 22, 2031
|
| Coupon: | 2.88%
|
| Price: | 99.991
|
|
|
| 2041 notes
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| Amount: | $900 million
|
| Maturity: | April 22, 2041
|
| Coupon: | 3.68%
|
| Price: | 99.972
|
|
|
| 2051 notes
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| Amount: | $1.75 billion
|
| Maturity: | April 22, 3051
|
| Coupon: | 3.84%
|
| Price: | 99.965
|
|
|
| 2061 notes
|
| Amount: | $1 billion
|
| Maturity: | April 22, 2061
|
| Coupon: | 3.94%
|
| Price: | 99.96
|
|
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