Tencent raises $8.3bn with its biggest ever loan : vimarsana

Tencent raises $8.3bn with its biggest ever loan


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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 aren’t authorised to speak publicly. Representatives for Tencent didn’t immediately respond to requests for comment. IFR Asia earlier reported on the deal closing.

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