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The deal comes amid a flurry of debt financings by tech giants.
By Apple Lam and Zheping Huang, Bloomberg
19 Feb 2021 10:07
Image: Yan Cong/Bloomberg
Tencent, the creator of the messaging platform WeChat, has raised $8.3 billion in the biggest offshore syndicated loan in Asia for a Chinese firm since 2016.
Twelve banks joined the Tencent financing deal, which initially had a $6 billion size, according to people familiar with the matter. The loan will be used for general corporate purposes, the people said, asking not to be identified as they arenât authorised to speak publicly. Representatives for Tencent didnât immediately respond to requests for comment. IFR Asia earlier reported on the deal closing.
Read more about Tencent raises $8.3 billion with its biggest offshore syndicated loan on Business Standard. The deal comes amid a flurry of debt financings by tech giants, with Alibaba Group Holding Ltd. issuing $5 billion of bonds in early February
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2021 China Gift Card and Incentive Card Market Analysis, Featuring Alibaba Group Holding Ltd, Auchan Group SA, Bailian Group Co Ltd, Apple Inc and More
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The Chinese gift card market outperformed global peers, recording the strongest growth in 2020. The Chinese economy bounced back sharply with 4.9% growth between July and September 2020, outperforming global markets. Consequently, both retail and corporate consumer sentiment has turned positive, and in turn expected to drive growth of gift card in 2021.
Being the global leader in the e-commerce segment, the increasing number of internet users is driving the strong growth in China. With more than 900 million internet users, adoption of digital gift cards (e-gift cards) in China is faster than other comparable markets.