Tencent plans to issue US dollar bond

Tencent Holdings will issue a US dollar bond to be coordinated by Deutsche Bank, Barclays and Goldman Sachs, The Wall Street Journal reported, citing an unnamed source. It is unclear how much Tencent will raise in the proposed bond issue, which is set to follow Tencent’s US$2.5 billion bond sale in the US last April, shortly after the company set up a program that enabled it to issue bonds worth up to US$5 billion over the following year. The latest issue falls under the same program.