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Baidu markets two-part offering of sustainable notes
Chicago, Aug. 16 – Baidu, Inc. is marketing two tranches of dollar-denominated notes, at least some portion of which will be sustainable, according to a 424B5 filing with the Securities and Exchange Commission on Monday and a press release.
The notes have a make-whole call and a par call. If there is a change-of-control triggering event, the issuer must offer to purchase the notes at 101.
The notes will be listed on the Stock Exchange of Hong Kong Ltd.
Goldman Sachs (Asia) LLC, BofA Securities, Inc. and J.P. Morgan Securities LLC are underwriting the notes.
Bank of New York Mellon is the trustee.
Maples and Calder (Hong Kong) LLP advised the company regarding Caymans Island law. Han Kun Law Offices advised the company regarding law in China.
Proceeds will be used for general corporate purposes, including debt repayment.
Baidu is a Beijing-based internet services company.
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