Chinese search giant Baidu today announced that its offering $1.5 billion in notes to pay off debts. The public offering consists of $750 million worth of 2.250% notes, due in 2017 and $750 million of 3.5% notes, due in 2022 with notes are expected to be listed on the Singapore Exchange.
“Besides the obvious advantage of being able to raise US dollars inexpensively at this time to retire some of our existing debt, our bond offer is really about having a ready war chest flexibility for a range of strategic uses,” Kaiser Kuo, the company’s director of international communications, told TNW, before admitting that the funds “could include” acquisitions and mergers, both in China and abroad.
