Tencent makes $2.5bn US bond sale

Chinese internet giant Tencent Holdings (0700.HKG) completed a sale of US$2.5 billion in bonds on Tuesday, The Wall Street Journal reported, citing an unidentified source. The bonds will mature in three years and five years, and were priced to yield 2.070% and 3.398%. Investors put in US$12.5 billion in orders overall, with US$4.5 billion for the three-year bonds and US$8 billion for the five-year bonds. The sale, the firm’s largest US debt deal on record, comes after Tencent established a program to issue up to US$5 billion in bonds over the next year.