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Tencent Completes Its Largest Offshore Loan

September 11, 2019 7:19 am

Beijing (PingWest)—Chinese tech giant Tencent Holdings has completed its largest offshore loan as a USD 6.5 billion club, taking advantage of strong demand for high-quality credits to secure its cheapest syndicated loan to date.

Nine banks participated in the five-year financing, which is split into a USD 3.9 billion bullet term loan and a USD 2.6 billion revolving credit facility. Chinese banks dominated the deal, accounting for USD 5 billion of the total.

Source: Reuters