Baidu Completes CNY10 Billion Senior Notes Offering

Baidu has completed its offering of CNY10 billion in CNY-denominated senior unsecured notes, announced in a press release. The offering includes CNY7.5 billion of 2.70% notes due 2030 and CNY2.5 billion of 3.00% notes due 2035. These notes were sold in offshore transactions to non-U.S. persons under Regulation S of the U.S. Securities Act.

The company plans to use the net proceeds from this offering for general corporate purposes, including the repayment of existing debt and interest payments. The notes are expected to be listed on The Stock Exchange of Hong Kong Limited, with trading anticipated to begin on March 13, 2025.

In a separate announcement, Baidu also completed a US$2 billion offering of zero-coupon exchangeable bonds due 2032 as stated in a press release. These bonds, which do not bear regular interest, can be exchanged for cash or Trip.com shares under certain conditions. The proceeds from this offering will similarly be used for general corporate purposes.