Tencent jumps on ‘golden window’ for $6bn bond

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By Morgan Davis
28 May 2020

Chinese tech giant Tencent Holdings raised $6bn from a four-tranche transaction on Wednesday. The deal, which attracted some $36bn of orders at its peak, proved that global investors are not being scared away from Chinese credits, despite the geopolitical risks clouding the country. Morgan Davis reports.

Tencent is one of the rare companies that have benefited from the Covid-19 pandemic. The company’s first quarter results were boosted by the increased demand for gaming and other technology-related services under lockdown.

“Now is an exceptionally good time for them,” said one Hong Kong-based banker on ...

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