• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Wednesday, June 18, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Chinese search engine Baidu launches a US dollar bond, despite crackdown

by Rohit Yadav
August 18, 2021
in Business, News, Tech, Trending
Reading Time: 2 mins read
0
Google’s Backyard Becomes The Car R&D Centre Of Baidu
TwitterWhatsappLinkedin

Baidu Inc, a Chinese internet behemoth, is approaching financial markets with a two-tranche, US dollar sustainability bond, which may test global investor demand for China tech assets as Beijing tightens regulatory oversight.

You might also like

OpenAI Accuses Microsoft of Anticompetitive Behavior Amidst Partnership Tensions

OpenAI Awarded $200 Million US Defense Contract

AI Makes You Stupid, Study Suggests

Source: Baidu

Rates/Prices

The search engine business announced a 5.5-year and 10-year fixed-rate senior unsecured sustainable notes deal on Wednesday. It didn’t disclose how much it hoped to raise through the issue right away.

According to a term sheet reviewed by Reuters, the 5.5-year tranche will be priced around US Treasuries plus 115 basis points, while the 10-year bond will be priced around US Treasuries plus 150 basis points.

What will be the bonds used for?

The proceeds of the bonds will be used to pay down current debt and fund environmental, social, and corporate governance (ESG) projects within the company, according to the company. The acquisition will be led by Bank of America, Goldman Sachs, and JP Morgan, according to the business.

According to Dealogic statistics, Chinese firms have raised $121.2 billion in US dollar debt capital so far in 2021, somewhat less than the $126.6 billion raised during the same period last year.

“The current investor sentiment on the Chinese tech sector is not that great due to the regulatory crackdown,” said LightStream Research analyst Shifara Samsudeen, who publishes on the Smartkarma platform. “However, Baidu’s initiatives in the AI (artificial intelligence) space should drive its next phase of growth, and the market seems to have not paid adequate attention to that side of Baidu yet,” he added.

Baidu’s statement on China’s crackdown

Baidu stated in its prospectus for the acquisition filed with the Securities and Exchange Commission (SEC) that the entire impact of China’s regulatory crackdown on the tech sector is unknown. China said in July that firms with more than one million consumers would have to be evaluated by the Cyberspace Administration of China (CAC) before being allowed to offer their products in other countries.

“The draught measures are unclear as to whether the necessary requirements would apply to firms that have been listed in the United States and plan to make additional equity or debt offerings, such as ourselves. We can’t say what effect the proposed actions would have “In the prospectus, Baidu stated.

Chinese authorities issued new regulations aimed at the China tech industry on Tuesday in order to combat anti-competitive behavior and firms’ data handling.

Other developments

Baidu also unveiled Kunlun 2, a second-generation AI processor aimed at applications like self-driving cars.
The Chinese internet behemoth also unveiled a prototype “robocar” and renamed its robotaxi app, highlighting its autonomous driving aspirations. Baidu, China’s largest search engine, has shifted its attention away from advertising and toward artificial intelligence and self-driving cars.

Tags: BaiduBaidu AIBaidu Dollar bondKunlun 2Robocar
Tweet54SendShare15
Previous Post

Ethereum 2.0: Everything you need to know

Next Post

Softbank sold more than $14 billion listed stocks in last quarter

Rohit Yadav

Hi! I'm Rohit, If you like reading about markets, technology and business, you've come to the right place. Catch me: [email protected]

Recommended For You

OpenAI Accuses Microsoft of Anticompetitive Behavior Amidst Partnership Tensions

by Sneha Singh
June 18, 2025
0
OpenAI Accuses Microsoft of Anticompetitive Behavior Amidst Partnership Tensions

The tech world's most-watched partnership is showing serious signs of strain. Microsoft and OpenAI, once seen as the perfect AI power couple, are now facing mounting tensions that...

Read more

OpenAI Awarded $200 Million US Defense Contract

by Sneha Singh
June 18, 2025
0
OpenAI Awarded $200 Million US Defense Contract

OpenAI has officially entered the government sector with a bang, landing its first major contract with the U.S. Department of Defense worth up to $200 million. The artificial...

Read more

AI Makes You Stupid, Study Suggests

by Sneha Singh
June 18, 2025
0
AI Makes You Stupid, Study Suggests

New research reveals concerning effects on critical thinking and memory when people rely heavily on artificial intelligence tools. ChatGPT and similar AI chatbots may be harming our brains...

Read more
Next Post
SoftBank Group Corp. Chairman and Chief Executive Officer Masayoshi Son speaks during a press conference

Softbank sold more than $14 billion listed stocks in last quarter

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?