Tencent breaks 4 year silence with major bond sale

Chinese multinational technology conglomerate, Tencent Holdings, has lined up banks to manage its first bond sale in four years.

As earlier reported by Cryptopolitan, the company posted a 17% rise in net income, driven largely by the firms stronger margins across advertising and gaming segments. Among the contributors cited by the company for its results were AI-powered advertisements and the growth of gaming and social media efforts.

Tencent has been a leader in pushing forward AI research. It chose to weave AI software into all its offerings rather than introducing new AI platforms. DeepSeeks R1 fuels its gaming and social media applications, together with its proprietary Hunyuan model.

The companys cloud platform offers computing capacity to customers building AI systems. Rivals, including Alibaba and ByteDance, have also introduced their models in the process of an AI arms race.

Upon issuance, the notes will be senior unsecured obligations of Alibaba and will mature on September 15, 2032, unless they are redeemed or repurchased, or converted before that time.

These investors cannot convert the notes during the 40 days following issuance, referred to as a “distribution compliance period.” After that, and until the business day before March 15, 2032, holders may convert their notes in $1,000 increments as long as certain conditions are met.

In other words, if Alibaba decides to settle conversions, it can pay in cash, ADSs, or a combination of both, providing the company with flexibility to address dilution. Investors who wish to receive ordinary shares instead of ADSs will be required to complete a separate process outside the DTC system and follow applicable deadlines.

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