On June 30, 2015, Baidu Inc. (BIDU. NASDAQ) successfully issued US$ 1.25 billion in bonds, which consist of US$ 750 million with a 3.000% coupon, maturing in 2020 (“2020 bonds”), and US$ 500 million with a 4.125% coupon, maturing in 2025 (“2025 bonds”). Jingtian & Gongcheng is the PRC legal counsel in this deal to provide legal services.
Baidu is the largest Chinese search engine and largest Chinese website in the world. It was founded at Zhongguancun in Beijing in January 2000, listed at Nasdaq in 2005, and is the first Chinese company to be included in the Nasdaq 100 index. Financial Times from UK ranks Baidu as China’s Top 10 Global Brands, among which Baidu is the youngest company, as well as the only internet company.
For 4 years in succession, Jingtian & Gongcheng has been the PRC legal counsel for the underwriter of Baidu’s overseas bond issuance, and has helped Baidu to secure financing over several billion US dollars.