Tencent Holdings (0700) has raised US$6 billion in debt, the Chinese company said today, in the largest debt deal by an Asian corporate in 2020. The deal was finalised early today in which Tencent raised US$1 billion in five-year debt, US$2.25 billion in 10-year, US$2 billion in 30-year and US$750 million in 40-year debt, a term sheet showed, Reuters reports. It was the first time Tencent raised 40-year money in its history. The transaction was the largest by a non-financial company in the Asian region so far this year, data compiled by Refinitiv showed. Before the Tencent deal, the biggest was a US$4 billion junk bond by Scenic Journey in January and a US$2.9 billion bond by Sinopec on May 7, the data showed.

Source: The Standard May 28, 2020 02:15 UTC