Baidu proposes CNY-denominated senior notes

[Baidu Inc. Headquarters]
zorazhuang

Baidu (NASDAQ:BIDU [https://seekingalpha.com/symbol/BIDU]) proposed [https://seekingalpha.com/pr/20223485-baidu-announces-proposed-offering-of-cny-denominated-senior-notes] a CNY-denominated offering of senior unsecured notes in offshore transactions targeted at non-U.S. persons, with final terms such as interest rates, principal amount, and maturity to be set at the time of pricing.

The proceeds are intended for general corporate purposes, which include repaying existing debt and covering interest obligations.

The management has the flexibility to optimize terms based on market demand and currency alignment with Baidu’s core operations and revenues, which are principally in yuan, reducing foreign currency risk exposure.

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