Baidu announces pricing of US$1.5 billion notes offering

Baidu, Inc., the leading Chinese language Internet search provider, today announced the pricing of its public offering of US$1.5 billion aggregate principal amount of its notes.

The public offering consists of US$900 million of 2.875% notes due 2022 and US$600 million of 3.625% notes due 2027. The notes have been registered under the U.S. Securities Act of 1933, as amended, and are expected to be listed on the Singapore Exchange Securities Trading Limited.

The Company expects to receive net proceeds from the offering of approximately US$1.49 billion, after deducting underwriting discounts and commissions and estimated offering expenses. The Company intends to use the net proceeds from the offering to repay existing indebtedness and for general corporate purposes.

The joint bookrunners of the offering are Goldman Sachs (Asia) L.L.C., J.P. Morgan Securities LLC and The Hongkong and Shanghai Banking Corporation Limited.

SOURCE Baidu, Inc. via Prnewswire