Baidu raises $1 bln in ESG bond issue despite China tech sector woes
The Hindu
Baidu said it intended to use the proceeds to pay down debt and fund ESG-related projects within the firm.
Chinese internet giant Baidu Inc has raised $1 billion in a two-tranche, U.S. dollar sustainability bond, its first environment, social and governance (ESG) transaction. (Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) A 5.5-year tranche bond raised $300 million and the 10-year tranche secured $700 million, a company statement said.
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