Baidu Successfully Closes Deal on Senior Notes Worth 4.4 Billion CNY in 2025
Baidu, Inc. Completes Offering of CNY4.4 Billion in Senior Unsecured Notes
In a significant move, Baidu, Inc., a leading AI company with a strong Internet foundation, has completed an offering of CNY4.4 billion in senior unsecured notes due 2029. The offering was made outside the United States to certain non-U.S. persons under Regulation S.
The maturity date of the securities has not been specified in this announcement, but it is known that the notes will mature in 2029. The interest rate on the notes, however, stands at 1.90%.
It's important to note that the securities will not be registered under the U.S. Securities Act of 1933 and, as a result, they may not be offered or sold in the United States or to U.S. persons except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act.
The Company intends to use the net proceeds from the offering for general corporate purposes, including repayment of certain existing indebtedness and payment of interest. However, the Company has not stated its intention to use the net proceeds for these specific purposes.
The notes are senior unsecured obligations of Baidu, Inc., and the listing of and permission to deal in the Notes on The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") is expected to become effective on September 16, 2025. The notes will not be listed on NASDAQ under the symbol BIDU and on HKEX under the symbols 9888 (HKD Counter) and 89888 (RMB Counter).
This announcement does not contain an offer, solicitation or sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. Potential investors are advised to consult with their own professional advisors on any specific legal, tax or investment advice tailored to their individual needs.
Baidu, Inc. is listed on NASDAQ under the symbol BIDU and on HKEX under the symbols 9888 (HKD Counter) and 89888 (RMB Counter). For more information about Baidu, Inc., please visit their official website.
