Tencent plans to issue offshore bonds to raise 5 billion USD to support AI business development

According to Bloomberg, sources revealed that Tencent Holdings is considering issuing offshore bonds to raise $5 billion to meet the funding needs arising from the expansion of its artificial intelligence business.

The sources stated that the bond issuance may be denominated in US dollars and offshore renminbi, and could take place as early as this month. As the discussions are not yet public, the sources requested anonymity.