Baidu, a leading Chinese search engine, will issue a 4.4 billion yuan (US$618 million) dim sum bond. This move aims to alleviate the impact of increased competition in the AI sector by reducing financing expenses. The bond offers a 1.9% annual coupon and a maturity date of 2029. Baidu priced the offering on Tuesday and anticipates a closing date around September 15, 2029. This represents the company’s second dim sum bond issued outside mainland China.
Credits: News – South China Morning Post