Latham & Watkins Advises on Tencent’s US$2 billion Bond Offering

12 Feb, 2015

Tencent, a leading integrated internet services company in China, has raised US$2 billion from a two-tranche senior notes under the company’s existing US$5 billion Global Medium Term Note program.

The bond issuance comprised US$1.1 billion senior notes with 2.875% annual interest rate maturing in 2020, and US$900 million senior notes with 3.8% annual interest rate maturing in 2025.

Latham & Watkins represented the underwriters, including Deutsche Bank, Barclays, Goldman Sachs, J.P. Morgan, ANZ, Bank of China (Hong Kong), BofA Merrill Lynch, China Merchants Securities (HK), Citigroup and Credit Suisse. The Latham team was led by Hong Kong partner Ji Liu and supported by Hong Kong counsel Guiping Lu and Hong Kong associate Eric Yiu.

Ji Liu commented, “We are delighted to have advised on this landmark bond issuance by Tencent, an internet giant in the market. This deal demonstrates Latham’s strong experience in debt capital markets in Asia.”

Tencent now ranks number one among China’s top 100 most valuable brands and ranks fifth in the world for global technology leaders’ brand value, closely following Google, Apple, IBM and Microsoft, according to research conducted by agency Millward Brown and media company WPP.

For more information, please contact Kathryn Tschumper on +852.2912.2505

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