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 Tencent says plans offshore bond offering
 
CreateTime:2011-11-15     Source:Reuters Editor:zhangxu
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Nov 14 (Reuters) - Tencent Holdings, China's largest Internet firm by revenue, said on Monday it will launch an international bond offering and has picked Goldman Sachs and Deutsche Bank as the joint global coordinators of the sale.

The bonds, targeted at institutional investors, will be denominated in U.S. dollars,and Tencent will hold roadshows in London, Singapore and the United States in the coming weeks, banking sources told Thomson Reuters publication IFR.

The proceeds will be used for general corporate purposes such as replenishing working capital and for potential acquisitions, the firm said in a filing with the Hong Kong stock exchange.

No other details, including the potential deal size, were provided.

Goldman Sachs, Deutsche Bank, Credit Suisse and HSBC are the joint bookrunners and joint lead managers while Barclays Capital and Citi are the co-managers of the sale, it said.

Earlier this month, Tencent reported its slowest profit growth in four years, on softer growth in its casual games and lower margins due to increased investments.


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