According to sources familiar with the matter, as demand for artificial intelligence continues to grow, tech companies are increasingly seeking debt financing, and Tencent Holdings (00700.HK) is considering issuing bonds in the offshore market worth up to $5 billion. The sources said the bonds would likely be denominated in US dollars and offshore yuan, and could be issued as early as this month. While details regarding the specific use of the funds are currently unavailable, it's worth noting that Tencent raised nearly $4.7 billion in June this year through the issuance of long-term US dollar and yuan bonds, marking its largest single bond issuance since 2020. The proceeds from that transaction were primarily used for debt refinancing and general corporate purposes, including the development of artificial intelligence products and services.
