Baidu Announces Completion of CNY10 Billion Offering of CNY-denominated Senior Notes

Core Viewpoint - Baidu has successfully completed an offering of CNY10 billion in senior unsecured notes, indicating strong financial positioning and ongoing corporate strategies focused on debt management and general corporate purposes [1][2]. Group 1: Notes Offering Details - The offering consists of CNY7.5 billion of 2.70% notes due in 2030 and CNY2.5 billion of 3.00% notes due in 2035, showcasing a structured approach to financing with varying maturities and interest rates [2]. - The net proceeds from the offering will be utilized for general corporate purposes, including the repayment of existing debt and interest payments, reflecting a focus on financial health and operational flexibility [2]. Group 2: Regulatory and Listing Information - The notes have not been registered under the Securities Act and cannot be offered or sold in the United States, which aligns with regulatory compliance and strategic market positioning [3]. - The listing of the notes on The Stock Exchange of Hong Kong is expected to be effective on March 13, 2025, indicating a commitment to maintaining a presence in international capital markets [4]. Group 3: Company Overview - Baidu, founded in 2000, is recognized as a leading AI company with a robust internet foundation, trading on Nasdaq and the Hong Kong Stock Exchange, which highlights its dual-market presence and investor appeal [5].